Retirement Planning & Experiences

[Quickstatus]

TTR

Does not require change of employment to access. TTR is for people who are still actively working.

Stopping work condition of release is different.
When you are in TTR and hit 65, a declaration of stopping work tells the super fund you are retiring and converts your TTR to a pension :
The funds are converted from accumulation to pension account, the 10% limit and the no lump sum is removed.

 

[Happy Dude]

Does not require change of employment to access. TTR is for people who are still actively working.

Stopping work condition of release is different.
When you are in TTR and hit 65, a declaration of stopping work tells the super fund you are retiring and converts your TTR to a pension :
The funds are converted from accumulation to pension account, the 10% limit and the no lump sum is removed.

Still confused. TTR from 60yo requires a condition of release to access super. I thought one of the conditions was a change of employment?

 

[hydrabyss]

Still confused. TTR from 60yo requires a condition of release to access super. I thought one of the conditions was a change of employment?

It looks like a good idea to reduce your tax depending on the bracket your in.

Transition to retirement - Moneysmart.gov.au

 

[Quickstatus]

TTR from 60yo requires a condition of release to access supe

The only requirements to access TTR are
Age 60
Whether working full time or not is irrelevant
Move minimum $10000 into TTR income account - this remains invested just like your super accumulation account
Maintaining a super accumulation account

 

[Seat0B]

https://www.ato.gov.au/tax-and-super-professionals/for-superannuation-professionals/apra-regulated-funds/paying-benefits/releasing-benefits/conditions-of-release

@Happy Dude you would be using the conditoion of release "has reached their preservation age and begins a transition-to-retirement income stream"