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years time.In building up a lump sum, certain assumptions are made aboutthe rate the existing savings will grow over time, iecompounding interest/earning rates. To some extent this is outof our control but, as you will have encountered if you havestudied the Investments course, the mix of assets chosen inyour investment portfolio will influence the rate of return youcan expect and the variability of that return over time. We willreturn to this in a later topic in this course.

Transition to retirement policy退休政策的转变

从2005年七月一日起发布的“规则”状态发生了一些变化，让那些可以靠收入来源于养老基金的人，一旦他们达到保留年龄。这一立法变化是旨在帮助老年人，谁也希望减少他们的工作，但他们还准备充分的退休，仍需要同样的收入水平。如不应用工作测试，一个人会继续兼职或全职的，仍然需要一个基础养老金帐户。Changes to the ‘condition of release’ rules from 1 July 2005 hasmeant that a person can commence an income stream fromtheir superannuation fund, once they have reached preservationage. This legislative change was designed to assist olderAustralians who may wish to decrease their work but who arenot ready to fully retire and still require the same income level.As no work test is applied, a person could continue to work on apart-time or full time basis and still take an account basedpension. This pension is commonly called a ‘Transition toRetirement Account Based Pension’ (TRAP) or ‘Non-commutableAccount Based Pension’ (NCAP). We will refer to them as TRAPsand the TTR strategy.TTR strategies can be used to postpone full retirement and tosupplement income drawn from a person’s retirement savingswith salary income, thus reducing the drain on retirementsavings. It can also be used by those who work for longerperiods to boost retirement savings. These strategies arediscussed below.Once a member commences a TRAP the capital base isrestricted and they will not be able to access lump sum amountsuntil a full condition of release has been met (ie reachedpreservation age and retired, after attaining age 65 or changingemployment after age 60). These access rules provide a greatdeal of flexibility in the pre-retirement years well beyond theoriginal intention to supplement part-time work.The most common form in which people commence a TRAP is asan account based pension with two exceptions:1. No access to lump sums2.https://www.51lunwen.org/  Maximum pension that can be taken is 10% of capital base,calculated on 1 JulyLet’s look at an example to illustrate how a TRAP cansupplement the income of an employee who has decided toreduce their workload from full-time to part-time.本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。