Phone 1800 444 396
Post GPO Box 264, Brisbane QLD 4001

Transition to retirement: access your super while you keep working

transition to retirement

1 December 2021

If you are approaching retirement, we have an account that lets you start accessing some of your super while you are still working.

It’s called a Transition to Retirement (TTR) Pension account. You can use it to:

  • top up your income as you work less or take a lower-paid position leading up to retirement
  • continue working full-time and receive money from your super as additional income
  • take regular income from your super, and then redirect part of your salary back to super through salary sacrifice – depending on your salary level, this can be a tax-effective way of growing your super, if you stay under your contributions cap.

When are you eligible?

A TTR Pension account can be opened any time after you have reached your preservation age – this is the age when you can start accessing some of your super.

Your preservation age will be between 55 and 60 years, depending on when you were born (as below).

Date of birth

Preservation age

Before 1 July 1960


1 July 1960 – 30 June 1961


1 July 1961 – 30 June 1962


1 July 1962 – 30 June 1963


1 July 1963 – 30 June 1964


From 1 July 1964 onwards



Differences from a full Pension account

The TTR Pension account is similar to our full Pension account, but with three key differences:

  • You are unable to make lump sum withdrawals from a TTR Pension account.
  • There are limits on how much you can withdraw from a TTR Pension account each year:
      – Up to a maximum of 10% of what your TTR Pension account balance was on the previous 30 June.
      – A minimum of 2% of what your TTR Pension account balance was on the previous 30 June¹.
  • Investment earnings for the TTR Pension account are taxed at a maximum rate of 15%. Earnings are generally tax-free for the full Pension account.

How a TTR Pension account works

To open a TTR Pension account, you will need a starting balance of at least $50,000, which you can transfer from your super.

LGIAsuper offers you a choice of how you want your savings invested. We have a wide range of investment options to cater for different financial situations and goals.

You can choose how regular your payments will be – fortnightly, monthly, quarterly, half-yearly or annual. Pension payment amounts and frequency can be managed online, by logging onto your account in Member Online.

Your TTR Pension account sits alongside your Accumulation account. While your regular pension payments come from your TTR Pension account, any ongoing contributions from you or your employer are paid into your Accumulation account, so your super can keep growing.

When you turn 65 years of age, your TTR Pension account will automatically be converted to our full Pension account.

There are additional requirements for Defined Benefit members, which are outlined in the Pension accounts Product Disclosure Statement.

Further information and advice

Before starting a Transition to Retirement Pension account, please refer to our Pension accounts Product Disclosure Statement.

We also recommend you seek financial advice before deciding if a TTR Pension account is right for you.

Our financial advice service² can help you plan for a better financial future. LGIAsuper members can receive limited advice on a single topic related to their super. More comprehensive financial advice is also available, fees will vary.

If you would like to discuss your transition to retirement options with one of our financial advisers, please call us on 1800 444 396.


  1. The minimum pension payment rate was temporarily reduced from 4% by the Government in March 2020 for the remainder of the 2019/20 financial year as a COVID-19 relief measure, and was extended for 2020/21 and 2021/22 financial years. 
  2. LGIAsuper has engaged Industry Fund Services Limited (IFS) ABN 54 007 016 195 AFSL No 232514 to facilitate the provision of financial advice to members of LGIAsuper. LGIAsuper Financial Advisers are Authorised Representatives of IFS. Additionally, LGIAsuper has also engaged Link Advice Pty Limited ABN 36 105 811 336, AFSL 258145 to provide LGIAsuper members with access to limited personal advice over the phone in respect to LGIAsuper products.

Learn more

Learn more about this topic by watching our online tutorials: