Transition to Retirement

Boost your savings and pay less tax as you ease into retirement.

If you want to reduce your work hours, a transition to retirement (TTR) pension may be of benefit to top up lost income.

If you’re over 55 and your superannuation and goals are advantaged, a TTR strategy may be of benefit to you

What is ‘Transition to Retirement’

Transition to Retirement pensions allow you to supplement your income by drawing regular payments from your Superannuation fund, once you reach the required age.

A Better Lifestyle on the Same Income

You’ve worked hard to get this close to retirement. Now might be a great time to start scaling back at work and enjoying a bit more “you” time. Imagine only working two or three days a week, but still taking home the same money. Sounds good right?

If you’ve reached your Preservation Age and you are still working, a TTR strategy will allow you to draw a portion of your Superannuation account balance. This means that:

  • You could continue to work full-time, but reduce your tax by taking a pre-retirement pension and salary sacrificing more of your income into super.
  • You could scale back and move from full-time to part-time work, and replace your lost salary with a pre-retirement pension.
  • If you are a business owner, you could even use a pre-retirement pension to supplement your income needs during quiet periods.

We are here to help

We make it easy for you to get started with a plan to secure your financial future. We also help to monitor your progress monthly, which helps motivate you and keep you on track for success.

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Now that I’ve scaled back at work I’ve got more time to do things I really love, thanks to the work HM has done.

– Sandra E, Echuca