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Transition to retirement

Ease into your retirement

A Transition to Retirement (TTR) pension provides access in a limited capacity whilst you continue to work.

This access allows you to withdraw funds and/or a regular income from your super and is available to anyone who has reached their preservation age.

It offers the ability to:

  • Reduce your working hours, and draw an income from your super to maintain the same level of income.
  • Decrease the amount of tax you pay through a combination of drawing an income from your super and salary sacrificing and to increase your overall superannuation by contributing more than you take out.
  • Reduce your debts and allow you to concentrate on managing your cash flow and saving for retirement.  

Transition to Retirement pensions are available to anyone who has reached their preservation age.

Are there restrictions?

A TTR pension works pretty much the same way as a retirement pension, except that:

  1. You are limited to withdrawing up to 10% of your account balance via your TTR pension each year;
  2. The earnings are taxed up to 15%, in the same way your accumulation account is taxed.

Need more info?

A TTR pension is not for everyone, so it’s a good idea to have a chat to one of our Member Services team to better understand how this works.

You can also make a time to meet with one of our Financial Planners, who can work with you to make the most of your super options for the remainder of your working life.

You can give our team a call on 1300 65 18 65 or make an appointment online.

And don’t forget, as a member your first appointment is included in your membership. If you proceed with advice, some (if not all) of your advice fees can be deducted from your Statewide Super account (for super-related advice only).