It could pay to plan ahead so you can have more choice about what you’ll do when you move on from work.

Help to plan ahead

Your retirement could be whatever you want it to be. But longer lifespans and earlier retirements bring the need to plan carefully, well in advance.

Your health and ongoing independence will be fundamental to a long and happy retirement, and your strong financial position, key to an enjoyable lifestyle.

The Transition to Retirement Strategy(TTR)

The Transition to Retirement Strategy (TTR) is available to those who have reached their ‘preservation age’ ( 55 – 60 ) but who have yet to retire permanently, and who wish to either reduce their working hours and supplement their employment income or build their wealth for retirement. The TTR Wealth Creation strategy works by replacing taxable employment income with concessionally taxed or tax free pension income. The TTR strategy allows you to receive a monthly or annual pension of between 4% and 10% of the value of your super account.

The wealth accumulation benefits of a TTR strategy are mainly the result of various taxation benefits. Firstly, income from employment or self-employment is taxed at a marginal tax rate of up to 49%, whereas income received from a Transition to Retirement Pension is taxed at your marginal tax , however you receives a 15% tax offset that reduces the effective tax rate. And if you are above age 60, the Transition to Retirement Pension income is not taxed at all.

How we can help

The earlier you begin to plan for your comfortable retirement, the better off you may be. We’re here to help you:

  • Understand your financial situation now and in retirement.
  • Determine when you’ll have access to your super and how you may be able to maximise any Centrelink payments you may be entitled to receive.
  • Calculate the amount you may need by a particular date and plan for accumulating enough savings before you retire.
  • Identify appropriate strategies for funding your retirement lifestyle goal.

Chat with our Perth based advisors about how we can help you achieve your retirement goals.

Help to make the most
of my retirement funds

Planning your future