When you turn 57 years old, a Transition to Retirement (TTR) pension strategy enables you to use your income to boost your retirement funds or help you ease back on work without losing any take home pay.
It's become much less common for Australians to hang up their boots at age 57 and there are many reasons why people work longer. You might need more money or you might simply enjoy the mental stimulation and social interactions a work environment can offer.
Reduce your work hours gradually and use your super to supplement your income and continue your current lifestyle.
Setting up a TTR arrangement can be complex - as are most strategies with tax implications, so it's often wise to get help from an accredited professional. Speak to a Mercer financial adviser today