Who can join IRIS?

Whether you are ready to fully retire or wish to transition into retirement, you can transfer your money from your superannuation fund into an IRIS Super Income Stream (subject to eligibility listed below). The minimum amount you can invest is $10,000.

If you are already retired and have a Term Allocated Pension, you may transfer your funds to an IRIS Term Allocated Pension account.

Your IRIS account will provide you with a regular income (until your funds are exhausted) and depending on market performance your investment might generate earnings which are tax free.

Fully retired: Super Income Stream

To be eligible to invest in the IRIS Super Income Stream, you must be:

• over the preservation age (see below) and have permanently retired from the workforce;
• age 60 or over and have terminated employment;
• over age 65; or
• totally and permanently disabled.

Partially retired / still employed: Transition to Retirement Income Stream

If you have reached your preservation age (see below), but continue working, you can commence a Transition to Retirement (TTR) Income Stream.

Your TTR Income Stream will revert to a normal Super Income Stream once you meet one of the conditions of release.

When to join: Your preservation age

Under Federal legislation, superannuation benefits must be preserved for retirement. This means they must be retained within a complying superannuation or rollover fund until a condition is met for benefits to be paid (or released under preservation rules).

In most cases, the condition for payment of your benefit is permanent retirement once you have reached your preservation age as outlined below:

Date of birth	Preservation age
Before 1.7.60	55
1.7.60 – 30.6.61	56
1.7.61 – 30.6.62	57
1.7.62 – 30.6.63	58
1.7.63 – 30.6.64	59
After 30.6.64	60