Transitioning to retirement

A Financial Services Partners Adviser can help assess how a Transition to Retirement strategy can help you reach your retirement goals.

What is a Transition to Retirement (TTR) strategy?

A TTR strategy allows people who are 55 or over to access their superannuation while still working. A TTR strategy involves you drawing upon part or all of your superannuation as an income stream through a TTR pension. This income replaces part of your salary, which means you could reduce your working hours, or alternatively, save even more towards retirement by using salary sacrifice strategies.

A TTR strategy is all about restructuring the way you receive your income so that you can increase your superannuation savings or reduce your working hours without affecting your day to day income, or both.

A transition to retirement strategy may be suitable if you:

  • are aged over 55 and working
  • want to reduce your hours and supplement your income, or
  • would like to boost your superannuation savings and pay less tax.

If you are not ready to wind back on your working hours just yet, you can still use a TTR strategy to help supplement your income. In short, TTR strategies may enable you to improve your financial position and lifestyle as you move towards retirement, without reducing your income.

What kind of goals can a TTR strategy be used for?

A TTR strategy is generally used to achieve your short to medium term savings goals. It allows you to take advantage of certain tax rules. This means you can end up paying less tax on your income, allowing you to boost your income or superannuation savings.

Your Financial Services Partners Adviser can determine if a TTR strategy is right for you, after they consider your needs and objectives. They can also determine which other retirement strategies can best meet your needs.

Talk to us about how a TTR strategy might work for you

If you are ready to see how a TTR strategy can work for you, we can match you with a suitable Financial Services Partners Adviser who will be happy to begin working with you to create a financial plan that's right for you.

To get started, please use our adviser matching service.

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