How over 60s are cutting hours and topping up their pay

Key points

• Australians aged 60 and over can access their super through a Transition to Retirement pension while still working. Drawdown limits apply, with a minimum of 4 per cent and a maximum of 10 per cent of the fund balance.
• Access Wealth Group owner Brendan Doherty says the strategy can help people reduce debt, scale back work or lift super contributions without a matching drop in take-home pay. From age 65, or after ending employment following 60, drawdown limits lift and earnings on eligible pension assets become tax-free.
• Rules vary for some public sector schemes, so individual advice is recommended.