Transition to Retirement Pension: Tax-Effective Income Strategy
Update: 2025-11-30
Description
Transition to Retirement Pension: A Tax-Effective Way to Ease into RetirementThis podcast episode explores the transition to retirement pension, a strategy for those nearing retirement. It allows individuals aged sixty and over to access up to ten percent of their superannuation balance annually, even while working. This pension can be used to top up income when reducing work hours or replacing income salary-sacrificed into super. The strategy is tax-effective, as withdrawals after age sixty are tax-free. For example, salary-sacrificing fifteen thousand dollars into super can result in a tax benefit of twenty-five hundred and fifty dollars. Those already retired can also benefit by contributing to a small super account, which offers tax-free earnings and payments. However, there are age and contribution limits.
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