Reduce work hours

This transition to retirement strategy aims to help you phase in retirement without necessarily reducing your take home income along the way.

It involves opening a superannuation product, known as an account-based income stream.

You roll a portion of super (but not from CSS) into your income stream account. You get paid regular income payments from your account balance, while you continue to contribute to CSS.

Benefits can include:

  • phase in retirement by working less
  • super (tax free form age 60) as a regular income stream before retirement
  • tax-free investment returns within your income stream account.

Important: Reducing your work hours and qualifying as a partial contributor will reduce your final CSS benefit. We suggest you get personal financial advice before making any decision.

It’s possible to take up this strategy in the Australian Government super environment using the income stream product available to CSS members called Commonwealth Superannuation Corporation retirement income (CSCri). CSCri is offered through PSSap.

Get personal financial advice

See financial advice to learn about the personal financial advice service offered to CSS members by Industry Fund Services.