The government 'preserves' your super by restricting when you can access your money. This means any money you invest in super stays in super, until you at least reach your preservation age.

Your preservation age depends on your date of birth:

You can choose how much income you take from your TTR account and when you want to receive it, from the minimum up to the maximum annual payment.

Each year, the government sets the minimum percentage of your balance that you need to withdraw.

To keep your Accumulation account open, you need to leave a minimum of $6,000 in that account.

You need a minimum of $30,000 to open your TTR Income account. There's no maximum amount you can have in your TTR account.

We can also help you figure out how much super you might need to retire.

We invest the balance of your Transition to Retirement Income account, so your super has the chance to keep growing.

Choosing the right investment option for your Transition to Retirement Income account can make a big difference to your retirement income.

We have 18 different investment options for you to choose from.

Our administration fee for our Transition to Retirement Income account is $1.20 per week plus 0.10% p.a. of your balance (up to the first $800,000). An additional 0.07% p.a. is paid from our general reserves – not out of your account.

Investment fees and costs also apply.

The income you get from a transition to retirement income stream is often taxed less than your salary from working.

The tax benefits you may get will be based on your age:

1. When you're under 60, withdrawing money from your Accumulation account gets taxed at your marginal tax rate, but you may get a 15% tax offset. And investment earnings in super are only taxed at 15%, compared to investments outside of super.
2. When you're over 60, the income payments are tax-free, and investment earnings in super are only taxed at 15%. If you're eligible for a Retirement Income account instead, the investment earnings in that account will be tax-free from age 60.
3. When you're 65 and up, your investment earnings are tax-free.

Find out more about tax and your super or read the product disclosure statement for details.

If you have insurance with your Accumulation account, you can usually keep this insurance when you start your Transition to Retirement Income account.

You just need to leave enough super in your Accumulation account to pay the insurance premiums.

See our Super Savings Insurance Guide for more details.