How can transition to retirement help you?
Transition to retirement is a popular choice for those who want to maximise their superannuation savings during their pre-retirement years. A transition to retirement is considered successful when it substantially increases your super fund’s balance and improves the quality of your lifestyle.
A transition to retirement is an effective strategy to reduce your working hours without cutting your income.
Who can use ‘transition to retirement’?
Once you’ve reached your preservation age, you can already be a candidate for transition to retirement. In most cases if you are 55 years and older, now is your chance to fully maximise this opportunity. Although you can work until your retirement age, let’s face the fact that many seniors today are losing their job and it is usually difficult to find another job. If this happens to you, you’re left with 10 years or less of income-earning years that may include long periods of unemployment.