When can I access my superannuation?

Accessing Super Q&As

• What is preservation age?

  Preservation age is the age at which someone can access super. From 1 July 2024 the answer is 60. The only exception is people born before 1 July 1964, but as they will already be over 60 this means they have already passed their preservation age so they can access their super.

• Can I access my super at 55 and still work?

  You may be able to access your super through a transition to retirement (TTR) pension from age 55 while still working. This lets you cut back on your working hours and top up your income by drawing from your super. However, because super income is tax-free from 60, many people tend to wait until then.

• Can I access my super at 60 and still work?

  You can access your super at 60, either through a transition to retirement pension or through a regular super income stream. When you set up through the regular income stream you’ll be asked if you’ve fully retired. If you say yes, but then decide to work again, have a chat with your super fund first.

• Can I access my super at 65 and still work?

  Yes! There are no restrictions on working and accessing super once you hit 65.

• Can I access my super for medical reasons?

  You may be able to access your super for serious medical reasons, before you turn 60. You’ll need to contact your super fund, and, depending on the circumstances, your situation may need to be verified by two medical specialists. Serious medical reasons are one of the few ways available to access super early.

• What age can I access my super tax-free?

  You can access your super and enjoy a tax-free super pension income from age 60 if you intend to fully retire, or 65 whether or not you wish to carry on working. It’s important to remember though that generally, only income from your super will be tax-free. You may still be taxed on your investment income at any age.

• How can I access my super?

  You access your super by opening a retirement income account (super pension) with your super fund and then roll your super balance into your income account. You decide how much income you want from your super and how often, for example $2,000 every fortnight. Your money is still invested, and can potentially keep growing.

• Retiring with an Industry SuperFund in Australia

  Industry SuperFunds offer both a retirement income stream and transition to retirement accounts. On average, they all have low fees and a good track record of strong investment returns to help preserve and grow your super. It’s why nearly 5,000,000 Australian workers are members of an Industry SuperFund.