Transition to retirement
What is transition to retirement (TRIS/ TTR)
Section: 13.1
13.1 What is transition to retirement? (TRIS/ TTR)
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 super savings in the form of a specific kind of pension or income stream called a transition to retirement income stream (TRIS), the acronym TTR meaning 'transition to retirement' is also commonly used.
Essentially, a TRIS is an account-based pension from where lump sum payments can only be made in limited circumstances
To receive a payment from a TRIS, the member must have reached their preservation age (that is, the minimum age that a member can access their preserved super benefits without satisfying another condition of release).
For those born before 1 July 1960, the preservation age is 55. The preservation age of those born on or after 1 July 1960 rises as shown in the table below.
Preservation age based on date of birth
| Date of birth |
Preservation age |
| Before 1 July 1960 |
55 |
| 1 July 1960 - 30 June 1961 |
56 |
| 1 July 1961 - 30 June 1962 |
57 |
| 1 July 1962 - 30 June 1963 |
58 |
| 1 July 1963 - 30 June 1964 |
59 |
| From 1 July 1964 |
60 |
Source: ATO
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Last modified: Monday, July 24, 2023