Transitioning to Retirement

You are getting closer to retirement, and you want to make every post a winner

Richard's story*


Richard, 60 years of age, has a highly stressful job and had been in ill health for some time. His doctor wanted him to reduce his working hours so he could focus on himself and improving his health. Richard argued that he could not reduce his hours as his family needed most of his income to meet living expenses.

Over the years, Richard had been building his superannuation, which had grown to a reasonable healthy balance.


We advised Richard that he could use his superannuation to commence an income stream, which would replace most of his employment income that he lost due to reducing his working hours.

Richard commenced a Transition to Retirement (TTR) Pension with part of his accumulated superannuation, and was able to cut back his working hours, with the consent of his employer, to 20 per week.

Over the next two years, Richard’s health improved significantly, and he was able to gradually increase his work hours and return to full-time work. Over this period, whilst retaining the TTR Pension, Richard was able to build his superannuation benefit by commencing a salary sacrifice arrangement with his employer. This enabled Richard to contribute pre-tax salary to superannuation, thus building his fund and minimising income tax.


* Names have been changed to protect client privacy.

What to do next:

Want some help with your plans to transition to retirement?

Contact us today on 03 8394 0300, or email us at to find out how you can reduce tax and boost your superannuation savings.

More stories tram track