While you’re still working and under 65 years of age, a TTR Income account is an AustralianSuper account-based pension that lets you receive regular payments1 from your super.
You’ll use some money from your super account to open your TTR Income account and set up regular payments1 from your TTR Income account directly into your bank account.
You’ll continue to receive your employer super contributions in your existing super account, while balances of both your accounts stay invested.
1 Government minimum and maximum withdrawal limits apply. Download the TTR Income Product Disclosure Statement for details. Transition to Retirement (TTR) can be complex and isn’t suited to everyone. It’s a good idea to get financial advice before deciding if a TTR Income account is right for you.
To start a transition to retirement (TTR) strategy by opening a TTR Income account, you must have reached the age when you can access your super - known as your preservation age. Your preservation age depends on when you were born.
Date of birth
Before 1 July 1960
1 July 1960 - 30 June 1961
1 July 1961 - 30 June 1962
1 July 1962 - 30 June 1963
1 July 1963 - 30 June 1964
From 1 July 1964
You must also be an Australian citizen/permanent resident, a New Zealand citizen or hold an eligible retirement visa.
Opening a new TTR Income account
You open a new TTR Income account by moving at least $25,000 from your super account into this new TTR Income account. It's important to note you can't add money to your TTR Income account once you've opened it.
You must also leave at least $6,000 in your super account so that it stays open. To find out more about the minimum balance for your super account, visit australiansuper.com/AccessYourSuper
When you turn 65, stop working for an employer after turning 60, or retire
When you turn 65 your TTR Income account will change automatically to a Choice Income account. If you tell us when you stop working for an employer after turning 60, or retire, we'll also move your account to Choice Income.
When you have an AustralianSuper Choice Income or TTR Income account, every financial year you’ll need to withdraw a minimum amount. The amount is set by the government, is based on your age and increases as you get older. From 1 July 2023, the government's standard minimum drawdown rates, will apply to all account-based pensions:
You can set up your TTR Income account in a way that suits you. Your TTR Income account is flexible, so you can change your payment amounts* and investment options at any time, or you can leave it to the experts with Smart Default - our pre-selected options.