Starting from 1 July 2017, Transition to Retirement Pensions (TTR's) will no longer be treated like other pensions. Income from investments and asset sales that support these types of pensions, will no longer be tax free.

Why you ask? Because our government believes we have been using these products not as they were intended to be used. Is that what's really been happening, to some extent. But it's not the whole truth, it's just that people smarter than the government found more efficient ways to use TTR pensions.

Not only did advisers find ways for works over 55 to slow down without sacrificing their lifestyle. They showed them ways to increase their retirement saving for when they do fully retire from the workforce.

However, the finger pointers have got their way again. You no the ones that point and say, hay I don't have that, why not. If I don't, why should they! But what the finger pointers of the world don't stop to realise or think about are the sacrifices those "cheaters" make to bolster their retirement incomes. So they aren't a burden on the tax system in retirement. Those "cheaters" are generally self funded retirees, that don't rely on taxpayer money in retirement.

#investing #pension