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            <regFileNumber>811-21598</regFileNumber>
            <regCik>0001295293</regCik>
            <regLei>5493005X9RIMZKJNE675</regLei>
            <regStreet1>100 FEDERAL STREET</regStreet1>
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            <regStateConditional regCountry="US" regState="US-MA"/>
            <regZipOrPostalCode>02110</regZipOrPostalCode>
            <regPhone>1-800-225-1581</regPhone>
            <seriesName>Putnam Retirement Advantage Maturity Fund</seriesName>
            <seriesId>S000067465</seriesId>
            <seriesLei>549300U01BZP8C6BX016</seriesLei>
            <repPdEnd>2021-08-31</repPdEnd>
            <repPdDate>2020-11-30</repPdDate>
            <isFinalFiling>N</isFinalFiling>
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        <invstOrSecs>
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                <name>PUTNAM INCOME STRATEGIES PORTFOLIO</name>
                <lei>N/A</lei>
                <title>MUTUAL FUND</title>
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                <identifiers>
                    <ticker value="PVT99JP16904"/>
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                <units>NS</units>
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                <payoffProfile>Long</payoffProfile>
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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

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                <securityLending>
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                    <isLoanByFund>N</isLoanByFund>
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        <signature>
            <ncom:dateSigned>2021-01-27</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
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    <documents>XXXX</documents>
</edgarSubmission>
