Changes to Personal Transfer Balance Caps

On 1 July 2025, the general transfer balance cap (TBC) was indexed, increasing from $1.9 million to $2 million. This increase impacts members with a personal TBC.

Members who started a pension before 1 July 2025 and haven't previously reached or exceeded their personal cap are eligible for a proportional increase, based on their highest ever transfer balance and the amount of unused cap space.

Members starting a pension for the first time on or after 1 July 2025 are entitled to a personal TBC of $2 million.