Transition to retirement pensions

Transition to retirement (TTR) pensions are required to meet the rules below in addition to the rules for regular account based pensions.

Feature	Description
Maximum payments	10% pa (not pro-rated)
Commutation allowed	At any time: back to accumulation phase to cash unrestricted non-preserved benefits (if any) to pay superannuation surcharge to effect a payment split to a non-member spouse to allow payment under certain release authorities where a condition of release has been met
Moves to retirement phase (see retirement phase)	When member attains age 65 or notifies trustee they have met a condition of release for retirement, permanent incapacity or terminal medical condition Upon death of a member where TTR pension is paid to a reversionary beneficiary.

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