Transition to Retirement Calculator

Want to access some of your super before retirement? That can become possible through the Transition to Retirement (TTR). You can use TTR to top up your income as you decide to reduce your work hours nearing retirement or boost your super before you retire.

What is Transition to Retirement?

TTR is a strategy that grants access to some of their superannuation for individuals who have reached their preservation age, without having to retire. They are allowed to get an amount of their super savings through a Transition to Retirement Income Stream or TRIS.

Who is Eligible for TTR?

Before you start commencing a TTR or paying a TRIS to an SMSF member, the individual must have reached their preservation age but are still working. Fifty-five is the preservation age for those born before 1 July 1960. The preservation age is higher for those born on or after 1 July 1960. Refer to the table below for the specifics:

Date of Birth

Preservation Age 

Born before 1 July 1960

55 years

Born between 1 July 1960 and 30 June 1961

56 years

Born between 1 July 1961 and 30 June 1962

57 years

Born between 1 July 1962 and 30 June 1963  

58 years

Born between 1 July 1963 and 30 June 1964

59 years

Born after 1 July 1964

60 years 

How Transition to Retirement Works

If you’re eligible for TRIS, you can use Transition to Retirement  to supplement your income as you start to reduce your employment hours. You can also maximise it to increase your superannuation savings & save on tax while continuing to work full time. But like any financial strategy, TTR comes with pros and cons.

The Transition to Retirement Calculator

Whether you want to tap into a part of your superannuation to boost your retirement fund or reduce work hours, you should use a TTR calculator. It’s a helpful tool to give you some sort of idea of how to best transition to your retirement phase by looking at your current & future financial goals. It will also show you a ballpark figure of how much you’ll need in retirement. 

Contact SMSF Loans Experts Today

If you need more help growing your superannuation for retirement  and strategising your SMSF investments for the future, give us a call today. Our SMSF experts are ready to point you in the right direction.