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Question

Can I salary sacrifice my income into superannuation and then draw down from my superannuation?

Answer

First State Super accepts salary sacrifice contributions into superannuation accounts. Whether you can salary sacrifice your income is subject to your employer’s approval. For information about the Government’s contribution limits click here.

If you have reached your preservation age (age 55 if you were born before 1 July 1960) and do not wish to retire but would like to access your super in the form of income stream payments, you can transfer a minimum of $20,000 from your existing First State Super superannuation account into a First State Super Transition to Retirement Income Stream (TRIS).

You, or your employer, will not be able to make contributions to a TRIS once established. However, you can open or maintain a separate superannuation account with First State Super for employer contributions including salary sacrifice contributions, personal contributions and rollovers.

For information about tax and income streams click here.

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