Transition to retirement account

A Transition to Retirement (TTR) Pension account lets you receive income from your super while you’re still working (as long as you’ve reached your preservation age) and offers a number of advantages.

This account works in much the same way as our Pension account but you are unable to make lump sum withdrawals and there are limits on how much you can take out each year.

How to open a TTR Pension account

Before starting a TTR Pension account we recommend you read the Pension accounts PDS and contact us to speak to our friendly and knowledgeable staff, as they can help you understand your options.

If you decide a TTR Pension account is right for you, simply complete the Pension application form at the back of the Pension accounts PDS and return it to LGIAsuper.

Read the Pension accounts PDS   Contact us

Can I open a TTR Pension account?

To open a TTR Pension account you need:

  • a starting balance of at least $50,000
  • to have reached your preservation age (which is between 55 and 60 depending on when you were born)

Once you turn 65 your Transition to Retirement Pension account will automatically be converted to a Pension account. This is because there are no limits on how much you can withdraw from your super after this age.

Income options to suit you

You can use a Transition to Retirement Pension account to:

  • top up your income as you work less or take a lower paid position leading up to retirement
  • continue working full-time and receive money from your super as additional income
  • potentially reduce your tax bill and boost your super in the lead up to retirement by combining a Transition to Retirement Pension account with making salary sacrificed contributions to your super

Flexible payment options

You decide how often you receive your pension income. Choose from fortnightly, monthly, quarterly, half-yearly or annual payments.

You can also choose how much you receive each payment, within limits of 4 and 10 per cent of your super balance each year.

Low fees, genuine value

Our fees are among the lowest in the industry. You won’t pay to contribute to or withdraw from your account and it’s free to switch investment options. For more information on fees, read the Pension accounts PDS or visit the Fees page of our website.

Read the Pension accounts PDS   View Fees

Investment choice

LGIAsuper offers a wide range of investment options so you can make a choice that suits your needs. You can change your investments at no extra cost.

View our investment options

Tax benefits

If you’re aged 60 or over your pension income is tax free. If you’re under 60 your pension income is taxable but a tax offset applies.

For more information, click the button below.

Check Tax On Pensions

You should read the Pension accounts PDS in deciding whether to acquire, or continue to hold, this product.

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