Do you want to know what your options are for retirement? 

What is your Preservation Age?

Have you reached preservation age yet so you can retire, full time or part time, what are your options?

Generally, you need to reach preservation age before you can access your super.

The table below will help you calculate your preservation age.

Preservation Age

For more details please visit the ATO website.

Retirement Options

to consider

If you have reached the preservation age you may consider the following:

1. Transition to Retirement Strategy (TTR) account

Easing gradually out of full-time work is often a good way to start preparing for your retirement years. The good news is, with the Government’s transition to retirement provisions, you can reduce your work hours as you get closer to retirement age, without reducing your income.

A transition to retirement strategy allows you to start accessing your super as an income stream to make up the difference between your former full-time wage and your new wage as a part time employee.It means you can work less but enjoy the same standard of living you had when you were working full time. You can even continue adding to your super by salary sacrificing – which often brings added tax benefits as well.

a) Minimum/maximum limits

If you are under age 65 the minimum TTR income stream is 4% and the maximum is 10%.

b) Lump sum withdrawals

In general, you can only take your super savings as a lump sum when you have left the workforce completely. Therefore, you are not able to take a lump sum super payout while you are transitioning to

c) Contributions caps

Tax benefits will only apply to contributions within the contributions cap.

(We strongly recommend you speak to your accountant regarding any tax implications.)

For more details please visit the ATO website.

2. Account-based Pension

You are about to retire. What super options do you have and how can you draw an income? One option is an account-based pension.


• You can take control of your investments and how you want them invested.

• It has the flexibility to increase or decrease the amount of income you wish to receive.

• You have access to your capital for lump sum withdrawals for bigger purchases such as a new car or holiday if required.

• Any leftover capital after you both pass on will be availed for your family.

• It creates diversification across asset types which should help manage volatility.

• Can maintain a good balance between income and growth orientated assets, for long term capital growth and income.

• Having annual reviews, we can consider your current investment balances and returns, to make sure that your capital can extend past your life expectancy age.

For more details please visit the ATO website.

3. Centrelink

• Are you entitled to the age pension?

• What are the maximum assets an income I need before you are not entitled to the age pension?

• How best can I managed my financial situation to obtain more age pension income?

Retirement plans orange nsw

For more information regarding the age pension please visit the Centrelink website.

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How We Can Help

At Orange Financial Planning, we will explain the different options available to you and how to manage your
financial situation to best benefit you for Centrelink and to have the best long-term retirement plan.

Make an appointment today to have your situation reviewed.

What is important about money to you?

Understanding what drives you about money helps us create a tailored plan to suit your individual needs.

To Protect Your Family 

Build your wealth 

Pay for your current lifestyle

Plan for future retirement

Reduce your current debts

Create more freedom


Get In Touch

Contact Orange Financial Planning today to see how we can help create the life you planned for.