Not everybody wants to stop work permanently. Many people just want to cut back their working hours.

Good news! There’s a way your super could help you do that, without reducing your take-home pay.

It’s called a transition to retirement income stream or TRIS for short, and people use them in a couple of ways:

  • If you want to reduce your hours but not your pay packet, you could top up your take-home pay with regular payments from your TRIS account. There could also be certain tax benefits.
  • You might prefer to keep working full-time, top up your super account by salary sacrificing and draw payments from your TRIS to replace the amount you salary sacrifice. So while you may be drawing down from part of your super, you’re topping up as you go.

How does a transition to retirement strategy work?

Once you reach your preservation age, you can access your super as an income stream (regular pension payments) even if you’re still working, either full or part time.

Your preservation age depends on your date of birth, as shown in the table:

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
After 30 June 1964 60

Talk to us

If you want to know more about how a transition to retirement strategy could work for you, a financial planner can help.

Advice is available through our wholly owned financial planning business, StatePlus.

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