Can I add more money to my Retirement account once it has been opened?
No, once you have opened a Superhero Retirement or Transition to Retirement account you cannot add any more money to this account.
If you wish to add more money to a Retirement or Transition to Retirement account, you can open a Superhero Super account (or use your existing Superhero Super account if you have not closed it) and roll back funds into the accumulation phase account using the ‘Find More Super’ search button the Profile of this account.
Once you have rolled back funds from the Retirement phase account, you can add more rollovers, contributions etc. and then open a new Retirement or Transition to Retirement account with the higher amount.
Keep in mind that there is a Transfer Balance Cap of $1.9 million per person in a Retirement account at any time.Â
Any amount over this cap can be kept in an accumulation phase account and moved to a Retirement account at a later time, once some of your retirement phase balance has been drawn down in the form of Pension Payments.