There are minimums that apply, but yes, you can change how much you’re drawing down. If you’re withdrawing the minimum amount, depending on which investment option you’re in, you might find that even though you’re making withdrawals, your balance might remain at a similar amount (depending on what the market is doing).
There are a few important things to note if you’re considering opening a Transition To Retirement (TTR) Income Stream account:
We recommend getting in touch with our Advice team who can give you personal advice based on your circumstances. We often see retirees just withdrawing the minimum amount, so that they’re not taking away from their capital. But if you can afford to withdraw more and go on the holiday, do the renovation, or spoil your grandkids, what’s stopping you? You deserve to live your retirement the way you want to.