07 3262 6585 Book a time

Picture Book · Account-based pension vs TTR

The lifetime cap

Story pages

A woman in her late sixties with short white hair walking a dog along a beach
Meet Bev. She's 67 and about to retire.
A large clay water jug on a table
The transfer balance cap limits how much super can move into the retirement phase over her lifetime.
A neat timber fence line running along the top of a grassy hill
For anyone starting their first retirement pension from 1 July 2026, the cap is $2.1 million.
Two water tanks side by side beside a farmhouse
Anything above the cap can stay in her ordinary super account, where earnings are taxed at up to 15%.
A small boat moored at a jetty
A TTR doesn't count toward the cap until it joins the retirement phase.
A woman in her late sixties with short white hair using a laptop at a sunny kitchen table
People who started a pension earlier may have a different personal cap, which they can check in ATO online services through myGov.

The end

Want this for your situation?

Every situation is different. One of our advisers can help you work out what applies to you.

Book an appointment with one of our advisers

Next story: Very large balances

General advice warning. This picture book is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal advice. Rules and thresholds change. Before acting, consider whether it is right for you, read any relevant Product Disclosure Statement and our Financial Services Guide, and seek personal advice. Past performance is not a reliable indicator of future performance.

Information as at 27 October 2026. Sources:

1 / 7

Swipe, use the arrows, or press ← → on your keyboard.

Want this for your situation?

Every situation is different. One of our advisers can help you work out what applies to you.

Book an appointment with one of our advisersor call 07 3262 6585

Keep exploring: More account-based pension vs ttr stories · All picture books · Age Pension what-if planner · Cost-of-living help for homeowners