In this guide
- Q: Is there a maximum balance restriction when commencing a transition to retirement pension?
- Q: Do I still need to be working to commence a TTR pension?
- Q: Are transition to retirement pension payments tax free?
- Q: Are the fund earnings on my transition to retirement pension payments tax free?
- Q: How do I commence a TTR pension?
- Q: Why have a transition to retirement strategy if you have enough income now for your means?
- Q: I am turning 65 in a few weeks time, and I am still working. Can I commence a transition to retirement pension when I turn 65?
- Q: What restrictions apply to a transition to retirement pension?
- Q: How is the transition to retirement pension amount determined? By the individual or is it a percentage of the amount in the TTR?
- Q: Are there any disadvantages of commencing a TTR pension?
- Q: If I retire from my work, what happens to my transition to retirement pension? Does it need to stop?
- Q: Are there any tax outcomes when a TTR pension commences?
- Q: Can my super fund still receive super guarantee contributions when I am taking a TTR?
- Q: Can I use the contribution splitting strategy if my spouse is already accessing benefits under a transition-to-retirement pension?
- Q: I have a transition-to-retirement pension and my employer still makes contributions to my fund. How do I add these contributions to my transition-to-retirement pension?
- Q: How can I determine if my SMSF allows members to access benefits through a transition-to-retirement pension?
- Q: Is it possible that TTR pensions will no longer be allowed in the future and result in existing pensions having to cease?
- Q: Can I start a transition-to-retirement pension during the year, or do I need to wait until the following 1 July?
- Q: What are the pro-rata rules for a transition-to-retirement pension?
- Q: Is it still worthwhile starting a transition-to-retirement pension where the member balance is not large, for example a member balance around $500,000?
- Q: Are the funds drawn from a TTR added to your taxable income for the FY along with other taxable income received?
How do transition to retirement (TTR) pensions work? When can I start a transition to retirement pension and what benefits can be gained? What are the tax outcomes?
These are some of the common questions we have received from our readers, which we have answered below.
We also recommend you watch our webinars on TTRs:
- Transition to retirement pensions: Strategies and benefits.
- Transition to retirement pensions: The boom is coming.
