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