A trip unit for a circuit breaker includes a magnetic flux transfer system that employs a permanent magnet(s) and solenoid(s) with a ferromagnetic core. The system generates an attractive force using a solenoid to counter the force of a reset spring and latch friction force when a tripping condition is detected. The generated attractive force together with an attractive force from the magnet attracts a yoke which in turn moves the yoke together with an armature to the tripped position. The system also retains the yoke and armature in the tripped position using the attractive force of the magnet when the generated attractive force is no longer being generated. The system further generates a repulsive force using a solenoid when a resettable condition is satisfied to counter the attractive force of the magnet thereby allowing the yoke and armature to move from the tripped position to the reset position.