RETP083 Transition to retirement pensions: A step-by-step guide (649 words)

This 10-step guide will help you to understand what a transition to retirement pension is, what the rules are, how to weigh up the pros and cons and how to go about the application process.

As you progress towards retirement age, the idea of reducing your working hours can be appealing, especially if you can do it without reducing your income. Fortunately, there is a way to do this. It’s called a Transition to Retirement Income Stream (TTRIS), which allows you to supplement your part-time income with regular payments from your superannuation savings.

Alternatively, if you have an above-average income, a TTRIS could help you to reduce your tax while boosting your super balance.