Transition to retirement


The countdown to retirement has begun and it’s time for your retirement savings to be a focus in your life. You can access your super, using a transition to retirement strategy, once you reach your preservation age.

Date of birth Preservation age (years)
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

The rules

The transition to retirement rules allow you to access your super while you’re still working which means it can help you to:

  1. grow your super in the years before you stop working
  2. ease into retirement gradually by working less
  3. access some of your super early to pay off debt, take a holiday or even do some home renovations.

The benefits

The benefits to using a transition to retirement strategy are:

  1. you may pay less tax
  2. it can help grow your super
  3. allows you to ease into retirement
  4. brings forward those things you’re holding off doing until retirement.

Are you ready to transition?

Transitioning to retirement is different for everyone.

If you’re thinking about transitioning to retirement it’s best to speak to one of our qualified financial planners to find a solution that best suits you.

Book an appointment now