Transition To Retirement Income Streams

Transition to retirement (TTR) income streams

	TTR income stream not in retirement phase	TTR income stream in retirement phase¹
Taxed on earnings within fund	Yes	No
Counts against transfer balance cap	No	Yes
Counts towards total superannuation balance	Yes	Yes

TTR income stream not in retirement phase

TTR income stream in retirement phase¹

Taxed on earnings within fund

Yes

No

Counts against transfer balance cap

No

Yes

Counts towards total superannuation balance

Yes

1

A TTR income stream is in retirement phase where the member has attained age 65 or has notified the fund trustee that they have met any of the following conditions of release: permanent incapacity, terminal medical condition or retirement. A TTR income stream will also be in retirement phase if received by a reversionary beneficiary.

Transition to retirement income streams - minimum payment standards

Age	Minimum annual percentage in 2024–25
Under 65	4%
65–74	5%
75–79	6%
80–84	7%
85–89	9%
90–94	11%
95+	14%

Age

Minimum annual percentage in 2024–25

Under 65

4%

65–74

5%

75–79

6%

80–84

7%

85–89

9%

90–94

11%

95+

14%

Minimum annual payment for full financial years = account balance at each 1 July x minimum percentage (determined by recipient’s age at each 1 July)

For part financial years see Account based pensions - pro-rata rule and '1 June rule' in Retirement Phase Income Streams, or see FirstTech Super and Retirement Income Streams Guide.

Transition to retirement income streams - maximum payment

Maximum annual income
At commencement	10% x TTR commencement balance
Following financial years	10% x TTR account balance at 1 July

Maximum annual income

At commencement

10% x TTR commencement balance

Following financial years

10% x TTR account balance at 1 July

Maximum annual income is not pro-rated if the transition to retirement pension is started or commuted part way through the financial year.