You may choose to continue working. You may choose to reduce your hours, or stop working altogether. Whatever you choose, we have an allocated pension option to suit your needs.

Most Australians have the option of retiring when they reach their preservation age. But that doesn’t mean you have to. You may enjoy working. You may still need the income it generates. You may prefer to ease your way into retirement by slowly reducing your hours rather than stopping at once.

The Government policy called Transition to Retirement (TTR) offers you flexibility with these choices. Once you reach Preservation Age, you can supplement your salary with a First Super Transition to Retirement Allocated Pension. You may also be able to minimise your tax obligation and boost your super before you retire fully.

Investment earnings within your superannuation fund are generally taxed up to 15%.

You can use your First Super TTR for a number of different reasons.

“I want more ‘me time’”
Whatever your reason for wanting more ‘me time’ – be it spending time with family, starting a new venture or something entirely different – a TTR account lets you reduce your working hours and use some of your super to supplement your income.

“I’d like to boost my super savings”
If you’re worried about not having enough for retirement, a transition to retirement strategy can be a tax-effective way to boost your super and provide extra comfort. You do that by contributing some of your before-tax salary (salary sacrifice) into your super account and making up the shortfall in take home pay through payments from your TTR account.

“I’d love to pay less tax”
You’re in luck! With a transition to retirement strategy, you get the double advantage of both saving income tax through salary sacrifice and the tax concessions that apply to the income from your TTR account. And when you turn 60 you won’t pay any tax on your pension income!

“I want access to additional money now”
You can. Simply open a TTR account with some of your super money to access your money. But it’s good to keep in mind that you’ll be accessing your super savings earlier than might otherwise be the case.


  • You can make concessional contributions to your super account, currently capped at $25,000 for the 2019/20 financial year. Concessional contributions includes employer contributions, salary sacrifice and member deductible (self-employed)
  • You must receive at least one payment during the financial year and there is a minimum payment based on your age and account balance
  • You can draw up to 10% of your TTR account balance* each financial year, that can be made as one single payment
  • There is a minimum amount that must be withdrawn each financial year. For members under 75, please call our Member Services Team on 1300 360 988
  • In order to set up a First Super TTR, you must have at least $10,000 in super.

And if you are looking to retire fully, you may wish to set up a First Super Allocated Pension instead.

If you are unsure about which option is best for you, you may like to speak to a First Super Financial Planner^. They’ll assess your situation, discuss your goals and help you make the choice that’s right for you.

* 10% of initial balance on transfer and subsequent balance from 1 July each financial year.
^ Financial advice will be provided by First Super Financial Planners who are authorised representatives of Industry Fund Services Ltd (IFS) (ABN 54 007 016 195, AFSL 232514).

At First Super we understand that starting up a pension isn’t just a decision about money. It’s an important lifestyle choice that often comes with a lot of questions.

The biggest question often being, how can I maintain the comfort and security of a regular income in retirement?

To get you started on your journey, here’s some important things you need to know about how a First Super Allocated Pension account can help you.

  • Control your income in retirement. You can choose the amount of payments* and the frequency with fortnightly, monthly, quarterly, half-yearly or yearly payments.
  • Access lump sum withdrawals. You can draw down lump sums or even the entire account value when it suits you (minimum payment $1,000).
  • Pay less tax. A First Super Allocated Pension has numerous tax advantages, including no tax~ on pension payments and investment earnings.
  • Take care of loved ones. A First Super Allocated Pension lets you decide who gets what’s left in your account after you’re gone, by nominating a reversionary beneficiary to continue to receive your pension payments or by making a binding beneficiary nomination.
  • Peace of mind. If circumstances change, you can transfer the balance of your Allocated Pension account back into a super account.

If you are unsure about what is best for you, you may like to seek advice from a First Super Financial Planner^. They’ll assess your situation, discuss your goals and help you make the choice that’s right for you.

* You must draw the minimum pension payment based on the table below.
~ Based on current tax regulations for age 60 and over.
^Financial Advice will be provided by First Super Financial Planners who are authorised representatives of Industry Fund Services Ltd (IFS) (ABN 54 007 016 195, AFSL 232514).

This is a sponsored advertising promotion by First Super Pty Limited (ABN 42 053 498 472, AFSL 223988) as trustee of First Super (ABN 56 286 625 181).  This publication may contain general advice which has been prepared without taking into account your objectives, financial situation or needs. You should consult the Product Disclosure Statement (PDS) before making any investment decision. Before making a decision to combine your superannuation, you should consider any costs, change to insurance cover or loss of benefits that may apply and, if necessary, consult a qualified financial adviser. Past returns are not a reliable indicator of future returns. Content was accurate at the date of issue in July 2020, but may subsequently change. Please contact First Super on 1300 360 988 for updated information or to obtain a copy of the PDS. No commissions or fees are paid to NZ Relo as part of this promotion, apart from advertising costs.


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