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Q&A: Do I need to complete a TBAR when commencing a Transition to Retirement (TTR) pension?

Q&A: Do I need to complete a TBAR when commencing a Transition to Retirement (TTR) pension?

Q: I'm 61 years old and still working, I would like to start a Transition to Retirement (TTR) pension. Do I need to complete a TBAR to notify the ATO? And how often does one need to do this after turning 60 years old, if the answer is yes?

A: TBAR is the Transfer Balance Account Reports. There's a really quick short answer, and the answer is no. You're not required at all to complete a transfer balance account report for TTR pensions. That's the short answer.

About the author

Garth McNally

Garth has worked in the Australian Superannuation industry for over 20 years with a specific focus on self-managed super funds. He provides ongoing support and training to individuals as well as to professionals working in the superannuation area, including advisers, accountants and lawyers. He is a regular contributor to industry publications and to the leading professional bodies including Chartered Accountants Australia & New Zealand (CA ANZ).

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