If you're still working, there's still time to increase your retirement savings. A Transition to Retirement Income Stream might work for you. It can help minimise tax and is flexible to suit you.Apply now
Most of our members use a Transition to Retirement (TTR) Income Stream strategy to boost their savings before they retire. Some also use it to maintain their income while winding down.
Your current income and lifestyle don't need to change.
You can give your retirement savings a real kick.
Under 60? Income from your TTR account is taxed at your marginal rate with an offset of 15% available.
Over 60? Income from your TTR account is tax-free.
1. Firstly, you'll need to set up a new HESTA Income Stream account using a TTR strategy alongside your super account.
2. You can then tip a bit more into your super from your current income through salary sacrifice contributions (you might already be doing this) which could reduce your tax bill.
3. Then, you can use your TTR to replace what you've added to your super so there’s little or no effect on your regular income.