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Transition to retirement

When does a TTR income stream become

Section: 15.7

It is important to know when a TTR income stream becomes a retirement phase income stream for the purposes of:

  • the taxation of assets supporting the income stream, and
  • whether the income stream counts towards a member's transfer balance cap

A TTR income stream becomes a retirement phase income stream where the member:

  • attains age 65, regardless of whether they have notified the income stream provider, or
  • notifies the income stream provider that they satisfied one of the following conditions of release:
  • terminal medical condition
  • permanent incapacity
  • retirement.

A TTR income stream that reverts to a reversionary beneficiary is always a retirement phase income stream of the beneficiary, regardless of whether they have satisfied one of the above requirements.

Last modified: Wednesday, July 24, 2019