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Converting from Transition to Retirement to Retirement Income account

Learn why telling us when your work situation changes can help maximise your retirement savings.

The Transition to Retirement Income account is designed for members using a transition to retirement strategy. Have you turned 65, retired or changed jobs after turning 60? Let Australian Retirement Trust know and we’ll convert your account from a Transition to Retirement Income account to a Retirement Income account.


  Transition to Retirement Income account   Retirement Income account    
How much can I withdraw each year?   A maximum of 10% annually   No annual limit  
How are investment earnings taxed?  15%  Tax-free 
Eligible to receive a one-off Retirement Bonus  No 

Yes. Activating a Retirement income account can earn you a bonus of up to $9,500.

Find out more about the Retirement Bonus. 

Can I use a transition to retirement strategy?  Yes  Yes 

Have you turned 65?

When you turn 65 we’ll automatically convert your Transition to Retirement Income account to a Retirement Income account. This means you’ll no longer have a maximum limit and your investment earnings become tax-free.

Have you retired or changed  jobs?

When you tell us you’ve retired or you’ve changed jobs after turning 60, we’ll convert your Transition to Retirement Income account to a Retirement Income account.
If you wish to restart your account with additional contributions after this conversion you will need to meet an additional condition of release. 
Please call us on 13 11 84 to tell us if you've retired or changed jobs. 

What you need to know before converting your Transition to Retirement Income account

It’s important to know that your account is moving from the ‘accumulation phase’ to the ‘retirement phase’. From 1 July 2021 there is a limit that can be held within the ‘retirement phase’ across all superannuation accounts. This limit is known as the ‘transfer balance cap’. You will have a personal transfer balance cap up to $1.9 million on the total amount you can have in one or more superannuation retirement pensions like Australian Retirement Trust’s Retirement Income account. You can find out your personal transfer balance cap by contacting the ATO or logging into MyGov.

If you exceed the transfer balance cap you may have to pay more tax, so it’s important to consider how much of your balance you choose to move into a Retirement Income account and what options you have for any amount over the cap. The ATO may also force you to commute any excess amount from your Retirement Income account and the indexation of your transfer balance cap may be impacted. Special rules also apply for Income accounts that are setup for a reversionary beneficiary following the death of a member.

For more information refer to the ATO website by visiting