Transition To Retirement

As a result of legislative changes, clients can now commence a pension from their superannuation once they have reached preservation age (which is presently 55), without the need to retire.

This has created the opportunity for you to restructure the way they presently receive their income, such that they can retain their present level of income, but potentially significantly increase the balance of their superannuation when they retire.

It is both a powerful sales strategy, and an opportunity to add significant value to your clients in the years leading up to their retirement.

But the calculations involved to implement this properly are quite intense. So Provisio provides you with a solution:

Screenshots from the TTRS Calculator

Please See the Provisio Guide to Transition to Retirement below for more information.

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Understanding the Strategy
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With even a basic understanding, you will now be able to deal with complex Transition to Retirement scenarios with ease.
Our tool will give you advanced add-on strategies (such as the reboot strategy) to have the advantage over your competition.

Accurately Calculate and Show the Benefits of the Strategy to the Client

How much extra superannuation will the client have because of this strategy if they retain their existing income.
What level of pension should they draw (this is critically important and not something to be arbitrarily selected as with other tools)
Show the value of adding additional assets into super before commencing the strategy
Show the impact of varying the income (both up and down).
What is the detailed tax position for the client both BEFORE and AFTER the strategy
How should the strategy be changed once the client turns 60 and/or once the $50K contribution cap starts (2012).

Incorporate all of the above into your Advice Document in a quick and efficient manner.

Quickly produce an insert which can be included as part of any Statement of Advice or Report for a client
This report outputs to Microsoft Word, allowing you to further customise or change it as required.
The report contains a detailed implementation guide which sets out pensions, PAYG tax and salary sacrifice amounts.