When can you access your superannuation?

In order to access your superannuation you need to satisfy a condition of release. Once a condition of release is met, your superannuation is classed as having unrestricted non-preserved benefits.

Conditions of Release

The three main events that are considered conditions of release are when you:

  • reach your preservation age and retire
  • reach your preservation age and choose to begin a transition to retirement income stream while you are still working
  • are 65 years old, even if you have not retired.

There are some other special circumstances when you are can also access your superannuation. Please contact us if you wish to find out about these.

Preservation Age

This is the age at which you can access your super if you are retired or wish to start a transition to retirement income stream.  Your preservation age is based on your date of birth as follows.

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 1 July 1964 60

Please note that preservation age is not related to the age at which you might be eligible for the age pension.

Source: ATO website

This article is the opinion of the writer and does not consider the circumstances of any individual. This document has been prepared by Peter Keogh (Authorised Representative No. 253538 of Paragem Pty Ltd AFSL 297276) and is intended to be a general overview of the subject matter. The document is not intended to be comprehensive and should not be relied upon as such. We have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained in this document. No responsibility is accepted by Peter Keogh, Paragem or its officers.

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