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Make a smooth transition to retirement

Transition to Retirement (TTR) Pension

The TTR Pension can be used to save tax and/or to provide some extra income and is for people who:

  • Are still working full or part-time
  • Are between your preservation age and 65
  • Want their super to be working harder for them.

What's in it for you?

  • Create a regular income stream by converting your super balance into a LUCRF Pension
  • Smooth out the peaks and troughs that come with part-time or casual work
  • Can be used to replace lost income if you reduce your hours of work
  • Have more super when you retire, and
  • Pay less tax without changing your current income.

TTR facts

  • No tax is payable on regular pension payments for members aged 60 and over
  • Can be used in conjunction with salary sacrifice to save tax and grow your wealth
  • Flexible payment frequencies
  • For members 56 to 59 years of age, tax is payable at your marginal tax rate on some regular pension payments. However, a 15% tax offset (rebate) will apply.
  • A maximum 10% of your pension balance annually can be paid as a regular pension payment (up to 65 years of age)
  • You can use any or all of LUCRF Super’s investment options
  • Online account access is available 24 hours a day
  • Generally no lump sum payments can be made (non-commutable), and
  • Investment earnings are taxed at 15%.