Working Income Support Pension

Maritime Super's Working Income Support Pension (or WISP) is an income stream for people who haven’t yet retired.

WISPs have been designed to encourage people to remain at work (perhaps part-time) and maintain their income by receiving limited access to superannuation.

You can access a WISP if you:

• are an existing member of Maritime Super
• have reached your preservation age
• have preserved or unrestricted non-preserved benefits which you’d like to access in the form of a pension; and
• have a minimum investment of $30,000

Early access

You can access part of your preserved super before you retire as pension payments.

Supplement your working income

You can reduce your hours of work and maintain the same level of income by accessing your superannuation savings.

Tax effective

If you are 60 years or over, the income you receive from your WISP is tax free and not assessable. Additionally, the investment earnings you receive on your WISP are tax free.

Flexible payments

You can change the level of income (within payment limitations) and frequency of payments.

Range of investment choices

You can decide where your pension is invested from Maritime Super's range of investment options.

Social security friendly

The balance of a WISP pension is fully assessed by Centrelink as an asset. The income, however, is only partially assessed – contact Centrelink to learn more.

Learn more about the WISP in the Allocated Pension and Working Income Support Pension Member Guide.