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When transitioning to retirement, it is possible to reduce the hours you work without reducing your income, by tapping into part of your super.
This TTR calculator helps you estimate how this strategy could affect your income and your superannuation as you approach retirement.
You might find this calculator useful if you’re:
Add your current situation: age, income, current super balance, retirement age, and more.
You can adjust other settings such as annual inflation, insurance premiums, etc.
You will see a clear and complete breakdown of your scenario.
Our TTR calculator provides an estimate based on the information you enter and key rules that apply to Transition to Retirement strategies in Australia.
For example, many TTR income streams (TRIS) have a limit on how much you can withdraw each year, commonly a maximum of 10% of the account balance (with conditions). Also, tax treatment can change depending on your age.
A transition-to-retirement strategy can be complex. As we mentioned previously, we recommend you speak to a financial planner at your super fund.
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 60, 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 pension 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.
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