When can I access my super?

In order to withdraw your super, you must first meet a condition of release. In addition, the condition that you meet may place limitations on how much you are able to access.

Keeping in mind the sole purpose of superannuation is to provide for retirement, the most common condition of release is met when you reach your preservation age and retire. Depending on birthday, preservation age can vary between 55 – 60 years old.

Date of Birth Your Preservation Age
Before 1 July 1960 55
From 1 July 1960 until June 1961 56
From 1 July 1961 until June 1962 57
From 1 July 1962 until June 1963 58
From 1 July 1963 until June 1964 59
On or after 1 July 1964 60

There are some other limited circumstances where it's possible to access your super including if you become permanently incapacitated; suffer severe financial hardship and have been eligible to and received commonwealth benefits for 26 continuous weeks, but are still not meeting immediate living needs; on compassionate grounds, if you need to pay for a medical treatment; or if you are Terminally ill and unlikely to live for longer than 24 months, as agreed by two doctors, including at least one specialist.

Speak to one of our degree qualified advisers about how this relates to you.

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The content of this presentation is intended to be general information only and has been prepared without taking into account any person’s objectives, financial situation or needs. Each person should consider its appropriateness having regard to these matters or obtain relevant professional financial advice before making any financial decisions.  Examples are illustrative only. Each person should obtain any relevant professional financial, taxation and social security advice before making any financial decisions.