These days, almost all SMSF pensions are a particular type known as an ‘account-based pension'. A transition to retirement pension (TRP) is just the same as an account-based pension but has some extra restrictions that apply because it is being paid to someone who has not retired or met one of the other conditions of release that allow full access to the account balance. A TRP is also known as a Transition to Retirement Income Stream (TRIS).