Transition to Retirement

Use a Transition to Retirement strategy to help you prepare for retirement while you’re still working.

What is a Transition to Retirement strategy?

Did you know that when you reach your preservation age you are able to withdraw from your super balance as an income stream, even if you are still working?

With a Transition to Retirement (TTR) strategy, you can hold both:

A super account

A Super account to receive contributions from your employer as well as your own personal contributions.

A pension account

A pension account to set up with some or all your Super savings to provide pension payments that top up your income.

Why use a Transition to Retirement strategy?

Work part time with the same pay

Ease your way into retirement by reducing your working hours without affecting your income. A TTR strategy allows you to access up to 10% of your pension account balance a year by receiving regular income payments.

Pay less tax and boost your super

A TTR strategy could help reduce the tax you pay on both your income and any investment earnings you receive.

When can you access your Super?

Super is meant to help you save to fund your retirement, so it is logical that restrictions apply to when you can get access to your money. To give your Super time to grow, it is preserved throughout your working life, and access is generally restricted until you reach retirement age or preservation age.

Your date of birth

Before 1 July 1960

1 July 1960 - 30 June 1961

1 July 1961 - 30 June 1962
1 July 1962 - 30 June 1963
1 July 1963 - 30 June 1964

1 July 1964 onwards

Your preservation age







If you have reached your preservation age, a TTR strategy allows you to access your Super benefits as a retirement income stream while continuing to work. Previously, you could only access your super once you turned 65 or retired but with a TTR strategy, you may be able to reduce your working hours without reducing your income.

How does a TTR strategy work?

You can start your Suncorp TTR pension by transferring some of your super accumulation account to a super account-based pension. You will need to leave at least a small balance in your accumulation account so that it remains open to receive ongoing employer super contributions, any voluntary contributions you make and cover any insurance premiums coming out of the account.

If you are younger than 65, you can draw down a TTR pension income of between 4% and 10% of the pension account balance each financial year, to supplement your employment income. You cannot withdraw the pension payments as a lump sum.

Your TTR pension balance can be rolled back into your super accumulation account at any time.

Please note: Accessing your super benefits may affect your eligibility for social security benefits.

Related tools & resources

If you're already a Suncorp Super member, you can manage your super through our online portal.

Find product guides, member forms and other helpful documents

Find out how making extra payments into your super account now could improve your financial position well into the future.

We're here to help

Call us

Mon - Fri 9am - 5pm