Retirement Planning Checklist for Self-Funded Retirees in Brisbane

Updated 4 October 2026 | By Willow Wealth Partners

If you are approaching or already in retirement and expect to draw mainly on your super, savings and investments, it can be difficult to know which decisions to tackle first. Your plan needs to connect what you want to spend with how your money will be available, how long it may last and what you want to leave behind.

This retirement planning checklist is for self-funded retirees and pre-retirees in Brisbane. Start with your household needs, then compare the income options and rules that could affect your choices.

What does self-funded retirement mean?

People often use “self-funded retiree” to describe someone who relies mainly on their own superannuation, savings and investments. It does not automatically rule out government support. Your entitlement to the Age Pension depends on the applicable eligibility tests.

If you do not receive an income support payment, check whether you qualify for a Commonwealth Seniors Health Card. Age, residence, income and other requirements apply.

Start with the retirement you want to fund

List regular essentials, lifestyle spending and larger purchases separately. Rates, food and healthcare arrive differently from a car replacement, home repairs or an overseas trip. Include debt repayments and any financial support you intend to give family.

Then map your super, accessible savings, investments and other income. For a couple, consider both partners’ resources and access dates. A property or business sale needs an estimate of the proceeds after debt, costs and tax.

Moneysmart’s retirement spending guidance provides a useful starting point. A budget helps you identify what your plan must supply; a longer projection tests the assumptions behind it.

Compare your retirement income options

You may use more than one source of income. Compare the flexibility, risks and costs of each option:

• Account-based pension: regular payments from invested super, with flexibility over investments and withdrawals subject to the rules. “Allocated pension” is another name for an account-based pension. Returns and income for life are not guaranteed; withdrawals, fees and market performance affect how long the balance lasts.
• Annuity or other lifetime income stream: may supply income for a fixed term or for life. Conventional annuities can provide guaranteed payment amounts; investment-linked payments can vary. Compare inflation protection, access to capital, beneficiary provisions and the provider’s terms. Moneysmart explains the annuity trade-offs.
• Accumulation super and investments outside super: you may retain eligible money in accumulation and use savings or other investments alongside it. Compare access, tax and investment risks before withdrawing money from super or changing ownership arrangements.

The practical question is which combination can meet regular bills while leaving room for larger costs and changing circumstances.

Check super access, pension limits and withdrawals

Super is generally accessible from age 60 after meeting a relevant condition of release, or from 65 regardless of work. Confirm your position before committing to a retirement date.

The general transfer balance cap is $2.1 million for 2026–27. It limits transfers into retirement phase across your accounts, rather than your total super balance. Your personal cap may be lower if you have previously started a retirement phase pension. Check your available cap space in ATO online services and the ATO’s personal transfer balance cap guidance.

Account-based pensions require minimum annual payments. For an existing pension, the standard rates include 4% under age 65, 5% from 65 to 74, and 6% from 75 to 79, based on your age and balance at 1 July. Higher rates apply at older ages; different calculations apply in the first year. See the full pension payment table.

For example, a 68-year-old with an existing $800,000 pension balance on 1 July has a $40,000 annual minimum: $800,000 × 5%. That is a payment requirement, not a recommended spending amount or a forecast that the balance will last. Your budget may need more or less.

Separate payment tax from investment tax

Pension payments from a taxed super fund are generally tax-free from age 60. Untaxed funds and defined benefit pensions can have different treatment. Moneysmart explains retirement income tax.

Within super, eligible retirement phase investment earnings are generally exempt from tax, while accumulation earnings are generally taxed at up to 15%. A transition-to-retirement pension is not automatically in retirement phase. Interest, rent and investment income outside super have their own tax treatment.

For larger super balances, also review the separate Division 296 tax rules. Discuss your fund, account type and circumstances with your financial adviser and accountant before acting.

Plan for investment risk and changing expenses

Retirement does not remove investment risk. Diversification can reduce concentration risk, but it cannot guarantee growth or prevent every loss. Shares, property and bonds can fall in value; cash faces inflation risk.

Decide how upcoming withdrawals will be funded and how much accessible cash your circumstances call for. Selling investments after a market fall while continuing withdrawals can put pressure on the remaining balance. Review a difficult market scenario alongside a longer life, higher living costs or extra health expenses.

Compare total fees, investment choices, payment administration and advice arrangements. Check insurance and other benefits before closing an existing super account. Willow’s Superannuation and SMSF service covers related planning questions.

Prepare for a retirement planning conversation

In a first conversation, our adviser seeks to understand your current financial position and what you want from retirement. You can ask questions, explain what matters to you and decide what, if anything, you would like to do next.

Before the meeting, you will receive a short questionnaire to complete. It gives your adviser a useful starting point for the questions and goals you want to discuss.

Use this checklist to prepare. You do not need every answer ready:

• Your preferred retirement timing and an estimate of household spending.
• Recent super statements, savings, investments, property and debt details.
• Expected income and any planned business sale, property decision or family gift.
• Existing wills, powers of attorney and super beneficiary nominations. Check arrangements for both pension and accumulation accounts, with legal advice where needed.
• Questions about tax, fees, investment risk, pension payments and ongoing reviews.

Willow’s retirement planning service brings these decisions together. If business or asset ownership is part of your plan, our investment advice and asset structuring service is a related pathway.

Book a complimentary 30 minute meeting

Book a complimentary 30 minute meeting to discuss your retirement goals and current position. The conversation can help you decide whether our advice process may be suitable for your needs.