Over-60s can now access superannuation while still working full-time
People aged 60+ can access superannuation via Transition to Retirement pension while working, drawing 4, 10% of funds annually.
From age 60, Australian workers can draw an income from superannuation through a Transition to Retirement (TTR) pension without fully retiring. If still employed, strict limits apply.
The minimum is 4% and the maximum is 10% annual drawdown. A TTR pension lets workers drop to part-time work while topping up lost income.
High earners can combine TTR payments with salary sacrificing. They put pre-tax money into super at 15% tax, then draw tax-free TTR income to offset reduced take-home pay.
Investment earnings inside the super fund grow untouched. After age 65 or when employment ends, the guardrails disappear.
Drawdown limits lift and all investment earnings become tax-free. Workers can then choose a lump sum, an account-based pension, or both.
- 60
- Access age
- 4% to 10%
- Annual drawdown range
- 15%
- Concessional tax rate
- 65
- Full access age
Why it mattersWorkers over 60 gain flexibility to ease toward retirement on their own terms, cutting hours without dropping income or losing tax advantages.
AustraliaAustralian workers aged 60 to 65 can now plan a gradual transition to retirement instead of a sudden drop-off, protecting their income while they wind down work.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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