In the context of your Self-Managed Superfund (SMSF), your transfer balance cap represents the upper limit on the total amount of accumulated superannuation funds you
can move into retirement phase accounts, which enjoy tax-free earnings. This cap is not a one-time figure; it’s a lifetime limit that applies to all transfers you make over the course of
your life into retirement phase pensions.

With the commencement of your retirement phase income stream within your SMSF, your personal transfer balance cap will be equivalent to the prevailing general transfer balance
cap at that juncture.

Please note that since the 1st of July 2021, the general transfer balance cap is indexed with inflation, tracked by the consumer price index, and is adjusted in $100,000 increments. This
indexation can potentially increase your transfer balance cap over time, enhancing the amount you can shift into your SMSF retirement phase account, thereby maximizing your
superannuation’s tax-effective potential.

Source: ATO – Transfer Balance Cap Explanation