You’ve worked most your life and have been putting your hard earned savings into super over the years. Now comes the good bit – using your super savings to live the life after work you’ve dreamed of.

Of course it wouldn’t be super if the Government didn’t throw in a couple of rules first. Here we’ll explain all you need to know about getting your hands on your money, so you can get back to thinking about how you’re going to enjoy it!

Criteria for accessing your super

You can start accessing your super if you meet any of the follow criteria:

  • You reach your preservation age and permanently retire from the workforce
  • You are 60 or over and cease your current employment
  • You are 65 or over

Work out your preservation age

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
After 30 June 196460

Date of birth

You can stop work and keep receiving a regular income

Even though you’re thinking of winding up at work, you don’t have to let go of a regular income.
That’s where your super savings and an income account come in. An income account
let’s you draw a regular income from the super you’ve saved throughout your career.

Benefits of an income account

Receive regular payments

Manage your day-to-day expenses and those bigger retirement dreams better with a regular income.

Reduce the tax you pay

Once you’ve turned 60, you won’t pay tax on the payments you receive from your income account.

Keep growing your wealth

Keep your nest egg invested during retirement so it continues to generate returns.

Flexibility with your money

Make online withdrawals1 to cover unexpected costs and choose how regularly you receive payments.

1 Conditions apply. Minimum and maximum drawdown limits apply.

Other circumstances that allow you to access your super

You may be able to access a portion of your super for the following reasons:

There are other circumstances where your super can be paid, including contribution splitting, family law splits, and if you’re a temporary resident.

For details, read the information booklets relevant to your division.

If you need help working out if you’re eligible to access your super or want to start accessing your super, give our friendly helpline team a call.