5 Camp St, Kangaroo Flat 3555 03 5447 2899

Transition to Retirement (TTR)

Transition to Retirement (TTR)

If you’ve reached your preservation age, a Transition to Retirement (TTR) pension can give you the flexibility to ease into retirement by reducing your working hours, while still boosting your retirement savings.

Here are ways that you can use the TTR initiative to your advantage:

  • Maintain your lifestyle and spend fewer hours at work.

‘Downshifting’ is a great solution if you still want or need to work but want a few days off each week to ease your way into retirement. You can reduce your work hours and supplement your reduced salary by drawing from your ‘accumulated super benefit’ through a TTR income stream

  • Continue to work the same hours and boost your retirement savings.

If you’d prefer to keep working it’s possible to set up a TTR pension and salary sacrifice additional amounts to super to continue to grow your retirement savings

  • Boost your income. If you have sufficient retirement savings, you can use a TTR pension while you are working to boost your income. The increased income you receive can be put to work by reducing your debt or funding projects such as home improvements.

Transition to Retirement pension – key features

  • Can be started by people who have reached their super preservation age.
  • Pension payments re capped at a maximum of 10%p.a., usually until the earlier of permanent retirement, reaching age 65 or meeting another condition of release.
  • Lump sum withdrawals or commutations are generally not allowed.