Transitioning to retirement

If you are thinking about retiring, it’s important to make sure you understand your own financial situation and to make sure you have enough money to live comfortably. Many government organisations provide support such as checklists and contacts for financial advisors. You’ll find information to help you make an informed decision on this page.


Getting financial advice

If you are considering transitioning to retirement, it is important to seek professional advice before making any decisions. The ASIC Money Smart website has information about choosing a financial advisor and financial advice costs.

You should also speak to your current Superannuation Fund provider for information about:

  • Investment options within your current fund;
  • Saving for retirement;
  • How to make extra contributions to your current fund;
  • Consolidating multiple super funds; and
  • Insurance options for your current fund.

Information about other services available to you can be found below.

Services Australia (Centrelink)

Centrelink's Age pension and planning your retirement page is a good place to start.

Centrelink’s Financial Information Service run seminars aimed at people nearing retirement and retirees who want to understand their pension and the options they have. To find out about the seminars including how to book, visit the Financial Information Service page.

You can also speak to a Centrelink Financial Information Service officer who can show you how to make informed financial decisions. They can also help you understand how to take control of your finances, so that you can actively plan for your retirement. Talk to a Centrelink Financial Information Service officer by calling 132 300. If your situation is more complex you can make a face-to-face appointment.

ASIC Money Smart

The Australian Government’s Money Smart website has a wide range of useful tools if you are considering retiring. Their superannuation and retirement page provides retirement budgeting information, superannuation calculators and a retirement income planner.

Money Smart also has information about choosing a financial advisor and financial advice costs.

You can also find money in lost bank accounts, shares and life insurance policies through the Money Smart website.

Australian Taxation Office (ATO)

The Australian Tax Office (ATO) has information on tax implications of withdrawing your superannuation.

The ATO also offers a service that allows you to search for lost superannuation entitlements.

Department of Veterans’ Affairs (DVA)

The Department of Veterans' Affairs provides support to current and former serving members and their families through a range of benefits (including ongoing or one off payments). For more information see their Income Support page.