Most of us think we can't touch our hard-earned super until the day we walk out of the office. But there are other options.
A Transition to Retirement Pension allows you to access your superannuation to supplement your income in the lead-up to retirement.
What's more, combined with a Salary Sacrifice, this strategy can be used to boost retirement savings while maintaining income levels.
Why choose to transition?
The move from paid employment to retirement is a big change – both lifestyle-wise and financially. A Transition to Retirement strategy can provide you with a last-minute boost to your retirement savings, and in some cases allow you to transition to retirement gradually with reduced working hours without a decrease in income.
This means less change to your day-to-day lifestyle, both activity and finance wise. A big bonus on all fronts.
Feel the support
A Financial Planner can help to analyse your unique lifestyle, circumstances and objectives. We'll take every detail into account. From there, we'll recommend a Transition to Retirement plan to help you gain the full benefit tax-wise.
How it works
With a Transition to Retirement strategy, you can increase your superannuation contributions through Salary Sacrifice, all the while replacing your regular taxed salary income with beneficially taxed account based pension income.
To make the most of your retirement, and discuss your own Transition to Retirement strategy, get in touch with a MyState Financial Planner today. We're here to help you transition to retirement with ease (and enjoyment).