WHAT IS TTR?

Introduced by the government in 2005, the Transition to Retirement (TTR) strategy provides individuals aged 60 and over the flexibility to access a portion of their superannuation as an income stream while still working.

The best way to utilise a TTR strategy will depend on your circumstances.

TTR can strategically be used in three ways:

  1. To help you maintain your current income level while boosting your super through salary sacrifice and tax savings while you continue to work full-time.

  2. To supplement your salary if you want to reduce your working hours.

  3. To help you reduce debt before retirement.

Have you considered the benefits of TTR?

CONSIDERATIONS

A TTR strategy may not be suitable for everyone.

It is essential to be at a certain income level and tax bracket for the strategy to be financially beneficial. You must also have a reasonable amount of super accumulated.  

It is relatively straightforward to calculate how you can reduce your tax bill each year between the ages of 60 and 67, potentially saving an additional $15,000 in your super (if your situation is suitable).

Find out how a TTR strategy can benefit you.

HELP IS AVAILABLE

Your employer has engaged SuperWiser to offer services to help you better manage your finances and super.

Call 1800 467 467 to book your appointment.

This document was prepared and issued by Super Simpler Pty Ltd (ABN 74 150 240 421) a privately-owned company operating as a Corporate Authorised Representative (CAR No. 468 201) of AXIS Financial Group Pty Ltd (ABN 21 092 889 579, AFSL 233 680). The information contained within it is not advice. It provides general information only and does not take into account your individual objectives, financial situation or needs. You should assess whether the information is appropriate for you and consider talking with your financial adviser before making an investment decision. Information in this publication, which is taken from sources other than Super Simpler, is believed to be accurate. However, subject to any contrary provision in any applicable law, neither Super Simpler, nor its employees and directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it.