Lynn and her friend Judy are both 72. They both retired in the same year at age 67 and now catch up regularly for a hit of golf together.

Lynn and Judy were both paid super during their working lives and each saved $200,000 with their Industry SuperFunds.

Before she retired, Lynn spoke to her Industry SuperFund's financial planner about how to maximise the money she had saved. Her adviser recommended that she open an income stream account with her Industry SuperFund and start drawing down on her money gradually. This meant she could still access the Government Age Pension while the balance of her saved money continued to grow during the early years of retirement, before she gradually draws down on all of it.

She knows she has the flexibility to withdraw some additional money for emergencies (or holidays!) if she needs to.

Judy on the other hand, switched to a retail super fund.

Both Lynn and Judy withdrew 5% of their balance each year for the first five years of retirement and also accessed the Age Pension to top up their incomes. After the first five years of retirement Lynn had a balance of $217,490 in her Industry SuperFund income stream account, while Judy only had $204,184 in her retail account.

That's an additional $13,306 for Lynn, simply by sticking with her Industry SuperFund.

Lynn and Judy are not actual members. Their stories have been created for illustrative purposes.

Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund.

Comparisons modelled by SuperRatings, commissioned by ISA, and show average difference in pension net benefit results after the first 5 years of retirement of the main balanced investment options of 8 Industry SuperFund pension products and a sample set of retail pension products tracked by SuperRatings with a 5 year performance history to 30 June 2023 (23 funds), taking into account historical earnings and fees. The model assumes a drawdown amount of 5% per annum, which is deducted monthly. Outcomes vary between individual funds. Modelling performed on 6 October 2023 using data as at 30 June 2023. See the Assumptions page for more details about modelling calculations and assumptions. General advice only. Consider a fund's Product Disclosure Statement (PDS) and your personal financial situation, needs and objectives, which are not accounted for in this information, before making an investment decision. ISA Pty Ltd ABN 72 158 563 270 Corporate Authorised Representative No. 426006 of Industry Fund Services Ltd ABN 54 007 016 195 AFSL 232514.