Wealth

What is the “Transition to Retirement’ rule?

By February 5, 2019 September 6th, 2019 No Comments
What is the “Transition to Retirement’ rule?

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.

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

HTA Wealth

We help our clients exceed their financial goals so that their risk is managed while creating a lasting legacy. Ben Seeger & HTA Wealth Pty Ltd are Authorised Representatives of Australian Unity Personal Financial Services Ltd ABN 26 098 725 145, AFSL No. 234459, 114 Albert Road, South Melbourne, VIC 3205.

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