If you’ve reached your preservation age (under government rules) but are not ready to retire, you may want to consider a Transition To Retirement Pension strategy. There are 2 main options designed to grow your savings and give you more flexibility.

Increase super savings

Continue working and boost your super with a Transition To Retirement strategy. This can benefit you in 2 ways if you are 60 or over: increasing your tax savings and allowing you to contribute more to your super.

  1. Make extra pre-tax super contributions to reduce your take-home salary
  2. Take out a Transition To Retirement Pension income stream (tax free if 60 or over) to make up your lost salary
  3. Benefit from tax savings
  4. Grow your super

Reduce working hours

Work fewer hours (or take a lower paid job) and stay on the same income as before with a Transition To Retirement strategy.

  1. Reduce your work hours and your take-home salary
  2. Take out a Transition To Retirement Pension income stream to make up your lost salary
  3. Enjoy working less for the same income
  4. Continue growing your super as you keep working

Learn more about TRP

Watch our short videos to learn more about the potential benefits of a Transition To Retirement Pension

Minimums, maximums and lump sums

What is the minimum I can take?

The minimum amount of regular payment is calculated each financial year ending 30 June and depends on your age on 1 July.

Age on 1 July of relevant financial year Min % of account balance payable per year from 1 July 2023
Under 65 4%
65-74 5%
75-79 6%
80-84 7%
85-89 9%
90-94 11%
95 or older 14%

In the year you open your Income Stream, the minimum amount is based on your age and account balance at the date you start your pension, pro-rated for the remainder of the financial year, unless you start your Transition To Retirement Income Stream in June, in which case there’s no minimum for the remainder of that financial year (ending 30 June).


*Note that the minimum rates were halved between 2019-2023. These reduced rates ended at 01/07/2023.

What is the maximum I can take?

If you take a Transition To Retirement Pension, your total payments in a financial year cannot exceed 10% of the value of your account at the start of the financial year (or at the date you opened your account in your first year of having a Transition To Retirement Pension).

The 10% maximum applies until you retire or reach age 65.

Near the end of each financial year, we will advise you of your minimum and maximum for the next year.

You can change your pension amount at any time in the secure area of the website.

Can I take lump sums?

Lump sum withdrawals from your Transition To Retirement Pension Account balance are not allowed unless:

  1. You have any amounts in your Transition To Retirement Pension Account that we refer to as ‘unrestricted non-preserved’ amounts. Any amounts with this classification would have generally been rolled over into ElectricSuper from another fund (although not all amounts rolled over into ElectricSuper would be ‘unrestricted non-preserved’ amounts). Contact ElectricSuper to learn if you have any such amounts, or
  2. You have met certain conditions, such as if you have permanently retired or reached the age of 65.

Call 1300 307 844

For help managing your super and your membership.

Start your TRP strategy

The Income Stream booklet shown under ‘Forms and Publications/Retirement and Income Streams’ has more details on ElectricSuper’s Transition To Retirement Pension product. Or call us to talk through the Transition To Retirement Pension options to make sure that you make the most informed decision for you and your super.

Contact us for further information.

What our members say

“I gained a better understanding of my current superannuation position, other superannuation products available to me & general retirement options.”

What's next?

How much will I need?

Find out how much you’re likely to need to enjoy the lifestyle you want in retirement.


Enjoy your retirement by focusing on your wellbeing as well as your finances.


Make things easier for your loved ones in the future by nominating beneficiaries.

Come and talk to us

Get your super sorted with a face to face consultation.

No cost. Start growing your super today.