Pension Plus Account

Easy banking with our retirement savings account

With no account fees or penalties and easy access to your money*, our pension account may be perfect for your everyday banking.


Eligible pensioners can make deposits and withdrawals without limits or penalties, without any account maintenance and transaction fees. On top of that, you'll also receive interest on your balance, which is deposited to your pension account each month.


Available for pensioners with a Commonwealth Government Pensioners Concession Card or Seniors Health Card, this account may be perfect for your retirement savings and pension account payments.


Enquire now

1300 55 72 72 

Features and Benefits

  • easy access to your money – in-branch, ATM, Internet Banking and EasyPhone Banking, EFTPOS, cheque book, BPAY and Bank@Post
  • no monthly account maintenance fees
  • unlimited free BOQ deposit and withdrawal transactions
  • free balance enquiries at BOQ ATMs or from Internet Banking or EasyPhone Banking
  • transfer orders are free to any other BOQ accounts
  • worldwide card acceptance with a Visa Debit Card
  • interest calculated daily and paid monthly

Interest Rates

Amount $ 

Interest rate 

1 – 1,999

0.25% p.a.

2,000 – 45,400

1.25% p.a.

45,401 and over

2.00% p.a.

Interest is calculated on the daily closing balance of a Pension Plus Account using a stepped rate of interest. This means that different rates of interest apply to different parts of the account balance. Please refer to section 2.10 of the Deposit Products Terms and Conditions for further information, including worked examples.

Federal Government Deeming Rates are taken into consideration to set the stepped interest rates on your Pension Plus Account, however BOQ's interest rates may not match the Federal Government Deeming Rates.

View other savings account interest rates. 

Fees and Charges

For information on fees applicable to this product, please refer to the Personal Banking Guide to Fees and Charges.

How to apply

To be eligible for this account, you must present a Commonwealth Government Pensioners Concession Card or Seniors Health Card when opening your account. Minimum initial deposit is $500.


Visit your nearest branch or call one of our friendly customer service consultants on 1300 55 72 72.


1300 55 72 72 

Important information

For important information on the Pension Plus Account, view the Terms and Conditions below:

*Fees are applicable for use of other ATMs and overseas ATMs.