When can you access your super?

To get your hands on that money you’ve got socked away in superannuation, you have to meet what’s called a ‘condition of release’.

The two most common conditions of release are:

  • Reaching age 65 (regardless of your work status), or
  • If you are under 65, you have to have at least reached your preservation age AND retired from work. “Retired” in this context generally means you intend to never return to gainful employment for more than 10 hours per week.

You preservation age can be worked out from the table below.

Date of birth Preservation age
On or before 3o June 1960 55
1 July 1960 to 30 June 1961 56
1 July 1961 to 30 June 1962 57
1 July 1962 to 30 June 1963 58
1 July 1963 to 30 June 1964 59
1 July 1964 and later 60

There are also other less common ‘conditions of release’ such as death, disability, severe financial hardship, compassionate grounds and more. If you want more information on these we suggest you head over to the ATO’s website (https://www.ato.gov.au/Super/Self-managed-super-funds/Paying-benefits/Conditions-of-release/).

Arguably, the more important thing to consider is when can you actually afford to start taking your super.

For more on that, check out this article How much do you REALLY need to retire?

Seeing as you were interested in this article about retirement planning, would you like our help to maximise your retirement income? Click here to learn more about our free initial consultations.


Important note: this advice may not be suitable to you because it contains general advice which does not take into consideration any of your personal circumstances. All strategies and information provided here are general advice only. Please arrange an appointment to seek personal financial and taxation advice prior to acting on this information.

About Invest for Living

At Invest for Living our aim is to help people make better financial decisions and ultimately live a happier life. We aren't controlled by any big institutions so our goal is not to try and sell you a product. Instead we pride ourselves on providing financial advice that makes sense and is easy to understand. It's not always the sexiest approach but in our 30 plus years of experience, financial strategies that have stood the test of time always work out best.
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