However, qualified tuition plan earnings distributed for ineligible expenses could incur a 10 percent penalty in addition to income tax on the distribution. (hrblock.com)
This is not true for most retirement accounts such as annuities or 401k plans, which often incur a 10 % penalty in addition to income taxes. (hacked.com)
In addition to her income from employment ($ 40,000 a year) she gets a transition to retirement income stream from her super as an annual payment. (ato.gov.au)