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Home News We’ve made it easier for you to manage your super (Divisions 1, 2, and 3)

As a not-for-profit fund, everything we do is for our members. To make sure we’re providing you with the products and services you need to take control of your super, we regularly ask for your feedback on what we can do better.

We’re sharing some good news about changes regarding accessing your super that many defined benefit members have asked for.

What's changed?

Subject to keeping a balance of $6,000 in their account, eligible members in Divisions 1, 2, and 3 who:

  1. are still employed by the Qantas Group; and
  2. have reached their preservation age; and
  3. have reached their Superannuation Date

can now transfer some or most of their balance to an Income Account in Gateway as a Transition to Retirement Member.

Employee members who have reached their Superannuation Date can also transfer some or most of their balance to another super fund even if they haven’t reached their preservation age.

Previously, a member had to ask Qantas Super to calculate the portion of their super that could be transferred to an Income Account in Qantas Super’s Gateway Division or to another superannuation fund. By removing this step, members can now access a larger proportion of their balance and have greater control over their super.

What is preservation age?

Super is subject to preservation. This means that your access to your super is restricted until you meet certain conditions, with one of these reaching your preservation age. Your preservation age depends on the year you were born:

Date of birthPreservation age
Before 1 July 196055
1 July 1960 – 30 June 196156
1 July 1961 – 30 June 196257
1 July 1962 – 30 June 196358
1 July 1963 – 30 June 196459
From 1 July 196460

Reaching your preservation age alone is not a condition of release; it must be accompanied by your satisfying another condition.

The most common conditions of release for accessing your super are if you have:

  • reached your preservation age and retired;
  • reached your preservation age and opened an income account as a transition to retirement member;
  • ceased an employment arrangement on or after the age of 60;
  • are aged 65 (even if you haven’t retired); or
  • have passed away

There are other special circumstances where a member’s benefit may be eligible for release before they’ve reached their preservation age.

What is a Superannuation Date?
For members in Divisions 1 and 2

] Your super enters its new phase on your Superannuation Date: on this date, your maximum defined benefit will be calculated and combined with your accumulation accounts, moving into a single accumulation account and giving you more control over your balance. This is the way your division was designed, which means everyone in your division enters this phase. Depending on your job type, you will reach your Superannuation Date on the 1 July following either your 55th or 60th birthday.

Learn more: Division 1
Learn more: Division 2
For members in Division 3

Your super enters its new phase on your Superannuation Date: on this date, your maximum defined benefit will be calculated and combined with any accumulation accounts you may have, moving into a single accumulation account and giving you more control over your balance. This is the way Division 3 was designed, which means everyone in your division enters this phase on their 65th birthday.

Learn more

What do I need to do?

You don’t need to do anything. However, if you would like to access your super, you can do so by filling out the relevant form here.

 

We're here to help

If you have any questions about accessing your super, you can book a one-on-one appointment with a Super Adviser on our website.

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