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Picture Book · Account-based pension vs TTR

Turning 65

Story pages

A man in his mid sixties with a white beard pruning roses in a front garden
Meet Graham. He's 64 and has had a TTR for a few years.
A train passing smoothly through a small country station
When he turns 65, his TTR moves into the retirement phase automatically.
A hand placing a sealed envelope into a red street post box with no writing
He could get there sooner by retiring and telling his fund.
A wide farm gate swung fully open onto green paddocks
From then, the 10% limit ends and he can take lump sums.
A clear stream flowing steadily between mossy rocks
Its earnings can generally stop being taxed, and its value counts toward his transfer balance cap.
A man in his mid sixties with a white beard sitting on a garden bench in the sun
Graham plans what he'll draw each year from here.

The end

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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:

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