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Transition to retirement

Cashing restrictions for transition to retirement

Section: 15.1

The 'attaining preservation age' condition of release (also referred to as the 'transition to retirement' condition of release) allows members to access their superannuation benefits (subject to cashing restrictions) upon reaching their preservation age.

Important changes to transition to retirement income streams apply from 1 July 2017.

Under the transition to retirement condition of release, any preserved and/or restricted non-preserved benefits must be taken as a certain type of income stream, which among other things does not allow lump sums to be paid (non-commutable).

Last modified: Thursday, January 11, 2018