Which of the following statements about drawing an income from super are TRUE:

1. If an individual is over the age of 60 and has permanently retired, their superannuation can normally be rolled over into an annuity that pays a regular tax-free monthly income for the rest of their life, so long as the total amount transferred is below the Transfer Balance Cap.
2. It is possible to transfer some of your super into a transition to retirement (TTR) pension while you are still working after you reach your preservation age. This could allow an individual to start drawing a regular tax-free income from their superannuation while cutting back their work hours a bit.