Retirement Solutions - Transitional Income Stream

If you have reached your preservation age (see below) you can access your super without having to retire or leave your job. This is called 'Transition to Retirement' and allows you to continue building up your super by way of employer contributions, salary sacrifice, or non-concessional contributions, while drawing on it at the same time. 

You can take advantage of the Transition to Retirement rules by transferring all or some of your super into a Retirement Solutions - Transitional Income Stream account. 

How it works

Income payments from this account are subject to age-based minimums (see below) and a maximum of 10% of your account balance as at 1 July each year. Once converted into this product, you can only take your money as a lump sum, or take more than the 10% limit if one of the following applies.

If you:

  • turn 65;
  • retirement permanently on or after your preservation age (see below);
  • leave employment on or after age 60;
  • die or become totally and permanently disabled;
  • are diagnosed with a 'terminal medical condition'; or
  • are required to pay a contributions surcharge or superannuation related tax liability.
How to join

To be eligible to join the Retirement Solutions- Transitional Income Stream account, you must have reached your preservation age (see below). Before joining, please read and understand the Retirement Solutions Product Disclosure Statement (PDS), then complete the application form.

If you have any questions about this product or the PDS, please contact our friendly Member Services team on (08) 9480 3500 or 1300 99 85 42 (country callers).

Preservation age

The Government has placed restrictions on when you can access, or withdraw your super. This is called “preservation” and it aims to make sure everyone saves for their retirement. Your specific “preservation age” depends on when you were born.

Date of birth

Preservation age

After 30 June 1964

60

1 July 1963 to 30 June 1964

59

1 July 1962 to 30 June 1963

58

1 July 1961 to 30 June 1962

57

1 July 1960 to 30 June 1961

56

Before 1 July 1960 

55

 

 

 

  

 

Aged based minimums 

The Government sets a minimum amount which we must pay you at least annually. This minimum amount is based on your age and a percentage of your account balance at 1 July each year, as follows:

Age

% of account balance

Under 65

4

65 - 74

5

74 - 79

6

80- 84

7

85 - 89

9

90 - 94

11

95 or more

14

 

 

 

  

 

Download PDF