Why you might choose semi-retirement

Aware Super

Australians are retiring much later than the generations that came before us. Many even choose to keep working for quite a few years after we can access our own super.

Is semi-retirement the first step for you?

Finding balance

Going straight from full-time work to full-time retirement is a giant leap. With the workplace changing, there are more chances to ease into things by working part-time, casual hours or from home. Going down this route can be the ideal way to enjoy the best of both worlds – more free time for personal projects, while keeping the financial and social benefits of paid work. This can help you continue building financial stability while easing your way into the next phase of life.

Changing priorities

As you get older, what’s important to you might change. You might want to spend more time with family, volunteer for a cause you care about, or dive into a hobby. Or life might throw you a curveball, and you find yourself needing to take care of a family member. If you have a physical job, you might want work that’s easier on your body. Semi‑retirement can offer the flexibility you need to accommodate these changes.

Financial benefits of semi-retirement

One of the main benefits of semi-retirement is the extra income. This additional money can be a great way to improve your financial security. 

You can: 

• Put more into your savings so you can retire with a bigger super balance
• Pay down your mortgage faster or cover housing expenses
• Create the opportunity to pursue other interests, hobbies, or travel
• Cut down other debts you might have. 

Retirement transition account

You might want to consider a Retirement Transition^# account. It allows you to access some of your super as income while you’re still working. This extra income can help make up for money you’re missing out on by working part-time. Plus, it’s tax-free. 

Learn more at aware.com.au/transition 

_{# Up to 15% tax applies to transition to retirement account earnings. You can convert your Retirement Transition to a Retirement Income account once you meet a condition of release, such as turning 65, if you’re aged between 60 – 64 and permanently retire, or change employers or temporarily cease employment. Retirement income and investment earnings are not guaranteed. Payments will cease once the account balance is depleted. Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340), the trustee of Aware Super (ABN 53 226 460 365). This document contains general information only and doesn’t consider your objectives, circumstances or needs. You should consider your objectives, circumstances and needs, read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD), and consider getting professional financial advice, before making any financial decision. You can find out more about Aware Super, including the PDS and TMD, at aware.com.au Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430) wholly owned by Aware Super. Members can get advice about their Aware Super accounts at no extra cost, or advice on their broader needs for a fee. AS037 06/24}