How does TTR Income account work?
Your TTR Income account and super account will work together while you’re still working, to help you transition to retirement, by topping up your salary using income payments from your super.
Initially, you’ll use money from your super account to open your TTR Income account. Your Income payments are then transferred directly to your bank account, and since you’re still working, employer contributions mean your super account balance continues to grow.
You only need $30,000* to open a TTR Income account and you can use it to:
Work less
- reduce your work hours.
- use your account to replace the reduced income.
- keep your take-home pay the same.
Save more
- pay some of your salary into super.
- replace your salary with payments from your TTR Income account.
- keep your take-home pay the same.
*You need $30,000 to start a transition to retirement strategy. You need to move at least $25,000 to your TTR Income account and leave at least $5,000 in your super account ($10,000 if you have insurance cover).
Things to know about TTR Income
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Am I eligible to transition to retirement?
To be eligible for transition to retirement (TTR), you must have reached the age at which you can access your super – known as your preservation age.You'll need at least $30,000 in your super account to open a TTR Income account. This is so you can move at least $25,000 to your account while leaving at least $5,000 in your super account ($10,000 if you have insurance cover).
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What’s my retirement or ‘preservation’ age?
Your preservation age depends on when you were born.
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 From 1 July 1964 60 -
Setting up your account in a way that suits you
We have investment options to suit everyone’s retirement goals. You can leave your investment choice to us by choosing our Smart Default option, or, if you’re a savvy investor, choose your own. The best part is that your TTR Income account is flexible – you can change your payment amounts (between the minimum and maximum percentage of your account balance each year) and investment options at any time.
Learn more about...
TTR Income Product Disclosure Statement - pdf, 2.3MB
For all the finer details about TTR Income account and things you need to know.
+Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.