What is the “Transition to Retirement’ rule?

HTA Wealth

We help our clients exceed their financial goals so that their risk is managed while creating a lasting legacy which has a greater impact on the lives of their family and their communities.

The Government’s superannuation ‘Transition to Retirement’ rule is designed to help Australians become more financially secure in the years leading up to their full retirement.

What is the “Transition to Retirement’ rule?

It allows pre-retirees currently aged over 55 gain some access to their accumulated superannuation balances through what is known as a Transition to Retirement Income Steam (TRIS) or a Transition to Retirement (TTR) Pension.

 

A TRIS is similar to an account based pension (ABP) but limits the amount of money you can withdraw annually.

 

What are the advantages of a TRIS?

  • Pays you a regular income.
  • Allows flexibility around your retirement plan.
  • Potential tax savings
  • Once aged 60, pension payments are tax free

 

 

If you want to know more about the ‘Transition to Retirement’ rule, you can download our fact sheet here.

 

You may also contact us if you have questions.

HTA Wealth

We help our clients exceed their financial goals so that their risk is managed while creating a lasting legacy which has a greater impact on the lives of their family and their communities.