Accumulation and Pension Phase of superannuation

I have been receiving many questions regarding the topic of superannuation, so today, let’s understand superannuation as a product and a difference between the accumulation and a pension phase of the superannuation cycle, and which one is better and why.
Accumulation phase
This is the stage when all the money is being collected via different types of contributions:
1. Employer SCG, which currently is 10.5% of your gross wage, increasing by 0.5% annually to 12% by 2025.
2. Salary sacrifice
3. Personal concessional contributions when you claim tax deduction or
4. Personal non-concessional contributions, when you contribute the after tax money to your super account.
Pension phase
After the whole life of work and savings, there is a time when you want to retire, either fully or partially, and you need to commence an income stream, and start drawing some income from your super savings.
This is when you start the pension phase.
You can transfer your super to a pension in full or just part of your super balance. You are not forced to close down your super account, just because you need some income from your savings.
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