Until you can access super, it sits in accumulation phase. When a contribution is made it goes here first and can stay there until death, for example.
While it’s here, it gets invested and deductions from accounts are made to pay for things like tax, fees and premiums. Rollovers are welcome.
When super can be accessed your options include rolling some or all of it into pension phase where in return, you receive regular income payments (generally tax free from age 60).
Different funds offer different types of income streams, such as account based pensions, which have a range of investment options. Rollovers are not welcome once an income stream starts.
Tip: If you don't want to use all your super to start a pension or take a lump sum, money can stay in accumulation phase throughout retirement. But earnings on any amount left here will continue to be taxed at a maximum rate of 15% (which might be less than your personal income tax rate when retired for example).