Slide into retirement like a boss
Find out how easy it could be to ease into retirement with Sunsuper's Transition to Retirement (TTR) Income Account using our interactive slider tool.
Making moves towards your retirement dreams
Retirement is the new promotion, so own the moment like the boss you’ll soon be - the boss of you.
But before you ride off into the sunset Head Honcho, there’s a super-smart way that could help you effortlessly ease into retirement, aptly called a Transition to Retirement (TTR) Income Account.
It’s all in the name really, a superannuation account that lets you ease back on your working hours while maintaining the same level of income as you coast towards retirement and dial up all the good stuff that comes with it along the way.
Follow the retirement journey below to see how our TTR Income Account could help you achieve your retirement dreams.
Slide left or right to see how our TTR income account could work for you.
If you have reached your preservation age, congratulations! You could be ready to transition to retirement. Best of all, you can start with as little as $60,000 in your super account.
Your preservation age depends on when you were born. Use the table to find out when you can transition.
|Date of birth||Preservation age|
|Before 1 July 1960||55|
|1 July 1960 - 30 June 1961||56|
|1 July 1961 - 30 June 1962||57|
|1 July 1962 - 30 June 1963||58|
|1 July 1963 - 30 June 1964||59|
|After 30 June 1964||60|
Once you reach preservation age, you can move some of your super savings from your Super-Savings Account into a Transition to Retirement (TTR) Income Account. Then you can reduce your working hours and supplement your income by drawing a regular payment from your TTR Income Account. It’s all about maintaining your standard of living as you slide into retirement; working less while living more.
Dial it up or down
You can take out a minimum of 4% and a maximum of 10% from your Transition to Retirement (TTR) Income Account each year.
Benefit from the benefits
Even though you’re drawing regular payments from your Transition to Retirement (TTR) Income Account, you can still make contributions to your superannuation through salary sacrifice. Salary sacrifice contributions are taxed at just 15% which may be lower than your marginal tax rate.
And if you’re aged over 60 the income payments from your Transition to Retirement Income Account will be tax free. If you’re age 60 or under, income payments may be taxable with concessional tax treatment.
Be the boss of you
Once you retire from work altogether, or turn 65 regardless of whether you’re retired or not, your Transition to Retirement (TTR) Income Account will convert to a Sunsuper Retirement Income Account, allowing you to fully enjoy your time in the sun.
Someone say happy hour?
We sure did, but before you call last drinks on your working life, take a look at a case study of how a Transition to Retirement (TTR) Income Account can work.
Financial advice: it’s like satnav for your super
Can you confidently drive off into the sunset knowing your superannuation has enough in the tank? Discover the value of advice and how the right kind can steer you in the right direction to your best possible retirement.
Talk to your financial adviser or get some advice through Sunsuper
The right financial adviser can help you navigate the road to your retirement dreams. To get the conversation started, just fill in your details and we’ll be in touch, or find out about the many ways to get advice through Sunsuper.
Or call us!
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