Transition to retirement
Here’s something a lot of people don’t realise: you don’t have to retire to start accessing your super. Once you’ve reached your preservation age (generally age 55) you can keep working while accessing your super through our Transition to Retirement facility.
What are the benefits?
A Transition to Retirement facility gives you extra lifestyle flexibility in the later years of your working life. It allows you to roll your super into an Income Stream account and draw on it as a pension to supplement your income. This means you can work part time or even full time whilst supplementing your income from your super.
There are a number of ways you can use a Transition to Retirement facility:
- Work part time and use the Cbus Super Income Stream to supplement your income
- Work full time and use the Cbus Super Income Stream to provide some or all of your income. You can then salary sacrifice your income into your super. For many people, this provide a tax effective way to boost their super leading up to retirement.
There are many other ways a Transition to Retirement facility can work for you. However, it can be very complex and we recommend you seek professional financial advice to help decide whether it’s right for you. That’s where Cbus can help as well. Click here to find out about our financial planners. You can find out more about Transition to Retirement with our Income Stream section.