My Finance Blog

Easing into retirement

Transition to retirement (TTR) is a new policy of the Australian Government that allows you to keep working while accessing some of your super.

The policy means that workers close to retirement can supplement their salary, as well as save tax and give your super a boost before you officially retire.

The transition to retirement pension gives you two options to choose from. You can keep working full-time and boost your super, or reduce work hours and soften the drop in income.

While there are benefits to taking advantage of a TTR, there are some factors you should consider before you ease in, such as your fund type, retirement strategy, social security entitlements, tax implications, and more.

The MoneySmart website offers a quick and easy to read rundown of the benefits and what you should know before deciding. 

Read the article via the link below for more information.