Transition to retirement

What is transition to retirement?

The transition to retirement measure allows people who have reached their preservation age, to have access to their superannuation benefits without having to retire or leave their job. This measure allows people to access their superannuation savings by drawing down certain non-commutable superannuation income streams called transition to retirement income streams.

From 1 July 2007, new rules apply to transition to retirement income streams.

Income streams which commenced before 1 July 2007 and that complied with the transition to retirement rules at the time are deemed to satisfy the new requirements and may continue to be paid under the former rules.

For information on transition to retirement income streams that commenced before 1 July 2007, see Transition to retirement - information for superannuation professionals (NAT 15258, PDF, 107KB)