Transition to Retirement

In addition to opening a Non-Commutable Income Stream with Super SA as part of your own Transition to Retirement (TTR) strategy, your spouse may also be eligible to set up a spouse account in the Super SA Income Stream for themselves. For further details please call the Member Services team on 1300 369 315 to discuss.

A Super SA Income Stream (i.e. Transition to Retirement (TTR) Income Stream) can allow you access to your super, from which you can draw down between a minimum of 4% and a maximum of 10% each financial year (if you are under age 65 and continuing to work), in line with Commonwealth Government requirements. For further information about minimum and maximum drawdown limits please refer to the Income Stream Product Disclosure Statement.

A Non-Commutable Income Stream (NCIS) as part of your Transition to Retirement (TTR) automatically converts to a Retirement Income Stream (RIS) when you meet a superannuation condition of release, such as retiring or reaching age 65. When this occurs you will be entitled to tax-free investment earnings and no limit on drawdowns or withdrawals.

To be eligible for Early Access to Super:

• You must have reached your Commonwealth Government preservation age
• Your Triple S account must have a balance of at least $36,500
• You must not have received an Early Access to Super benefit this financial year from the Triple S account
• You will need to roll at least $30,000 of your super, and keep a minimum of $6,500 in your Triple S account.

You may also choose to continue to work – but you can work less hours if you wish (subject to employer approval).

Before you make any decision about your finances, it’s important to consider your situation and your plans for the future. We recommend that you seek professional financial advice to check whether a TTR or an Early Access to Super (EATS) arrangement is right for you.

If you would like to apply for a TTR/EATS, you need to:

• Read the Early Access to Super section in the Triple S Reference Guide and Super SA website for details of eligibility criteria
• Contact us for an Early Access to Super benefit quote, based on your account and situation
• Complete the Early Access to Super Application form and supporting documents then submit them to us for processing.

We aim to process your application and let you know the outcome within 10 business days of receiving your completed application and relevant documentation.

You will also need to complete the application forms (and any other requirements) for the income stream product you wish to rollover to. You should read the PDS of the income stream product to understand the features of the product and the requirements for establish a new income stream account.

Commonwealth Government Preservation Age is different to the preservation age that applies within the Triple S Scheme. Your Commonwealth preservation age is when you can first access your super for Transition to Retirement (TTR) or Early Access to Super (EATS) purposes.

Your Commonwealth preservation age depends on your date of birth.

Please find below the preservation age for all age groups and when you can access your super via TTR/EATS.

Date of birth	Preservation age (years)	Earliest Access to TTR/EATS
Before 1 July 1960	55	Eligible now
1 July 1960 – 30 June 1961	56	Eligible now
1 July 1961 – 30 June 1962	57	Eligible now
1 July 1962 – 30 June 1963	58	Eligible now
1 July 1963 – 30 June 1964	59	1 July 2022
After 30 June 1964	60	1 July 2024