A Transition to Retirement (TTR) strategy allows you to access some of your superannuation while continuing to work. This can give you the flexibility to reduce working hours without sacrificing your income or to save more leading up to retirement. The right plan can help you strike a balance between enjoying today and preparing for tomorrow.
For many, transitioning to part-time work can ease the adjustment to retirement. With a TTR strategy, you can cut back your hours while topping up your income through a TTR pension, ensuring your lifestyle isn’t compromised.
If you’re between 55 and 59, TTR payments are taxed at your marginal rate with a 15% offset. For those over 60, these payments become tax-free—allowing you to reduce your hours or save more without unnecessary tax burdens.
A TTR strategy can also help you maximise your savings and minimise tax. By using salary sacrifice to contribute to super, you’ll benefit from:
Transitioning to retirement is about creating financial confidence and lifestyle flexibility. Without a plan, you risk missing valuable opportunities to maximise your super, reduce tax, and achieve the retirement you’ve envisioned.
We will create personalised financial plans that reflect your values, priorities, and goals. Whether you’re aiming to reduce work hours, grow your super, or secure a long-term income stream, we’re here to make your transition seamless and rewarding.
Let’s start planning your retirement today—so you can secure the life you want to live tomorrow.
To transition to retirement, you need to reach your preservation age and set up a Transition to Retirement (TTR) income stream or pension with your superannuation fund. This process involves several key steps: understanding your overall retirement goals, contacting your super fund to initiate the TTR arrangement, deciding on the amount to withdraw, planning for taxes, and potentially adjusting your work hours. It’s advisable to get expert guidance from a financial adviser to help you understand the implications of different strategies on your super, tax, and overall financial situation.
TTR income refers to the payments you receive from your superannuation fund under a Transition to Retirement (TTR) strategy. You can access up to 10% of your TTR income account each financial year. This income is drawn from your super savings and is designed to supplement your salary if you reduce your working hours as you approach full retirement.
Transition to retirement superannuation is a way for people who have reached preservation age to tap into their superannuation savings while continuing to work. Typically, you need to be aged 60 or older to access this strategy without paying additional taxes, but requirements can vary depending on your age and the specifics of your superannuation fund.
“*” indicates required fields
Sign up to our newsletter
