Planning is key when it comes to retirement. Begin with the end goal in mind – decide how you want to retire then plan for it.

The concept of 'transition to retirement' is to prepare for your retirement and help you smoothly move from one era of your life to the next. The ultimate aim is to make sure you have financial security when you decide to retire, and that the income you receive once you stop work doesn't dramatically change or negatively impact your life. Financial Framework know how to build the strongest retirement possible, and specialise in transition to retirement strategies.

Pensions are a big part of 'transition to retirement'. In Australia, retirement used to mean when you turned 65. Now it is up to you when you stop work. You are able to continue working past your retirement age, though you may still be eligible to receive your pension as well. Pensions in Australia are subject to income and asset tests, so it can be tricky to know exactly what you are entitled to, and when. Your Financial Framework adviser will take all of the stress out of arranging your pension – whether you are already eligible for it, or simply planning ahead.

Transition To Retirement Allocated Pension

Although superannuation cannot be accessed until retirement age (other than through hardship provisions) your super can be rolled into a Transition To Retirement Allocated Pension. This can be beneficial in several ways, as an Allocated Pension pays no tax and has capital gains tax advantages. Your Financial Framework adviser will access your situation and outline your Allocated Pension options, aiming to improve your tax position, grow your finances, and allow you to live the retirement you deserve. The one you have earned.

Transfer an overseas pension to Australia

If you have a pension in another country, you may be eligible to transfer it to Australian funds. This is good for tax, but is a complicated process subject to means testing. Please visit our Overseas Pensions page for more information, then contact a Financial Framework adviser to discuss your situation and explore your options.