Transition to retirement how does it work

Products in the Super Directions Fund are issued by N. Superannuation Proprietary Limited N. You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. You can also ask us for a hardcopy.

All information on this website is subject to change without notice. How does a transition to retirement TTR pension work? Share this article. At what age can I start a TTR pension? See the table below to work out what your preservation age is. The components must be applied proportionally. You need to keep records that show:. Failure to do any of these things can mean your fund becomes non-compliant, and you know what that means.

Transition-to-retirement pensions have real benefits for some people but may be less attractive for others. Deciding whether a TTR strategy is appropriate for you is an important decision and will depend on your personal financial circumstances and goals. As the information in this article is general in nature, and the calculations around TTR pensions can be complex, we suggest you seek independent financial advice before you act.

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Learn more. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs.

Learn more about SuperGuide. Reading time: 6 minutes On this page Am I eligible? What are the advantages? Give me an example What are the drawbacks? How do I get started? How do I stop a TTR pension? What else do SMSFs need to know? Look for advice before you leap. Learn more about preparing for retirement in the following SuperGuide articles:. Timing counts if you plan to retire this year and start a super pension July 20, How do I apply for the Age Pension?

July 20, Countdown to retirement: Tips to help kickstart your retirement plans June 1, Financial advisers give tips on preparing for retirement March 11, Five common financial mistakes people make just before retirement October 1, How to navigate the different phases of retirement August 9, The downside of this strategy is that you will be accessing your super savings earlier than usual.

You can then top up your reduced salary with a TTR pension. Active Super. Why Us Super basics Responsible investment. Plan your life Learn and grow News and events. About us Employers Help and support.