From 1 July 2021, the transfer balance cap is changing. That means the amount you can move into a retirement product may change from $1.6 million to up to $1.7 million, depending on your circumstances.

It is different for everyone and the changes could make a significant difference for some members. We recommend you speak to your financial adviser to find out how or if this change impacts you.

If you’ve never had a retirement phase income stream before:


If you start a retirement phase income stream for the first time on or after 1 July 2021, your personal transfer balance cap will increase from $1.6 million to $1.7 million.

If this is you, you are now permitted to transfer up to $1.7 million into retirement phase products, such as the Income Stream, when the time comes.

If you had a retirement phase income stream before 1 July 2021


  • If the balance of your retirement phase income stream was $1.6 million or more at any time between 1 July 2017 and 30 June 2021, your transfer balance cap remains at $1.6 million.
  • In all other cases, your transfer balance cap will be between $1.6 million and $1.7 million, linked to the highest ever balance of that account.

Changes to other concessional caps

There are also changes to the caps (or limits) on some other types of contributions for people whose super balance is $1.7 million or more at 30 June 2021:

  1. you will not be eligible for ‘bring forward’ arrangements
  2. you will have a non-concessional contribution cap of zero
  3. you will not be entitled to a Government co-contribution

Also, you will not be able to claim the tax offset for superannuation contributions made on behalf of a spouse or claim a deduction for contributions made on behalf of your spouse if your spouse’s super balance is more than $1.7 million on 30 June 2021.

The ATO website has all the details on how you can see your highest account balance and where you can find out if your personal transfer balance cap will be raised above $1.6 million. You can also find information about the concessional and non-concessional caps there.


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