When transitioning to retirement, it is possible to reduce the hours you work without reducing your income, by tapping into part of your super. The calculator below is a useful and straightforward tool to help you work out how you could achieve this, by looking at your current and future retirement goals.
Transition to Retirement (or TTR) is a retirement strategy that can be used in different ways as you gradually move into retirement. You can use it to top up your income as you ease back on the hours you work. You can also use it to give your super a boost before you retire. The TTR calculator covers all of this.
You may start using a TTR strategy when you turn 55, and enjoy a 15% tax offset, but the bigger tax-free benefits don’t begin until you’re 60, which is why most people wait until then to begin their transition to retirement.
It’s a good idea to do a quick review every year in case your goals have changed.
Your ability to use a TTR scheme stops when you turn 65, however, by then you can be enjoying a tax-free income stream through your super, even if you are still working.
Yes it could. Normally, there are caps on how much you can salary sacrifice each year – but you may be able to carry forward your unused caps from previous years, which means you can salary sacrifice more than usual.
No. TTR is the same across Australia, so whether you live in NSW or WA, or you’re working in Vic with retirement dreams in Qld, the TTR rules and benefits are the same.
Contact your fund today
Call: 1300 789 932
Call: 1300 348 546
Call: 1300 734 479
Call: 1300 361 784
Call: 1800 005 166
Call: 1300 664 781
Call: 1800 222 071
Call: 1300 360 988
Your question will be sent directly to the fund you select
Your question will be sent directly to the fund you select
Thank you for contacting AustralianSuper.
They will be in touch shortly
Thank you for contacting Hostplus.
They will be in touch shortly
Thank you for contacting HESTA.
They will be in touch shortly
Thank you for contacting Cbus.
They will be in touch shortly
Thank you for contacting Spirit Super.
They will be in touch shortly
Thank you for contacting CareSuper.
They will be in touch shortly
Thank you for contacting TWUSUPER.
They will be in touch shortly
Thank you for contacting First Super.
They will be in touch shortly
Due to a technical fault we are unable to to submit your form at the moment. Please try again later.
Additional details: