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Overview
Transition to Retirement is a government initiative that allows superannuation fund members who have reached their preservation age to access their accumulated superannuation benefits as a non-commutable income stream while they are still working.
Access
Select the client record and go to Reports > Calculators
📌Note
For the TTR Calculator to work as expected, the Fact-find information should be accurately filled in.
It is essential to model TTR separately for both the Client and Partner. Select the relevant option to model TTR for the intended party.
Once the client is selected, their details will appear automatically based on the information provided in Fact Finder. These details can also be edited.
Based on the parameters in the client's details, the calculator will display the client's current income, projected superannuation balance, and the optimal position to maintain their current net income level.
This will demonstrate how much can be withdrawn from a pension and how much should be contributed back into the superannuation accumulation account. Graphs will also be presented to illustrate this information.
Select Generate TTR to download this information in document format or select Save to save the TTR calculation to later use in a Transition To pension strategy in Digital Advice.
📌Note
It is crucial to save changes by clicking Save every time adjustments are made in the Input tab for the changes to reflect in the TTR-generated document.