When can you access your super?
In most cases, you can access your super once you reach age 65, whether you’re working or not.
If you’re under 65, you can generally access your super once you’ve reached age 60 and you meet certain conditions. This is different from the age you can qualify for the Government Age Pension, which is currently 67.
Super access rules are set by the Government and are known as “conditions of release”.
You may be able to access your super if:
- You are 65 or over, regardless of whether you’re working
- You are 60 or over and stop working permanently
- You are 60 or over and leave an employer (any new super contributions will remain preserved until another condition of release is met)
Ways to access your super
1. Lump sum payments
If you’re eligible, you can withdraw part or all of your super as a lump sum.
- Available from age 60 if you’ve stopped working
- Available from age 65 even if you’re still working
To apply, you’ll need to complete a Benefit Payment Form.
2. Account-based pension
Instead of taking a lump sum, you can transfer your super into a pension account.
This option allows you to:
- Keep your money invested
- Receive a regular income stream
- Potentially benefit from tax-free payments from age 60
- Have earnings within the pension account tax-free once a condition of release is met
Minimum annual payments apply.
3. Transition to retirement (TTR) pension
If you’re 60 or over and still working, you may be able to start a transition to retirement pension.
This allows you to:
- Access part of your super as regular income while still working
- Reduce your working hours while supplementing your income
Maximum and minimum payment limits apply.
4. Early access to super (special circumstances)
In limited situations, you may be able to access your super before age 60.
Severe financial hardship
You may be eligible if you:
- Receive eligible Government income support payments, and
- Have been receiving them for a required period, and
- Cannot meet reasonable and immediate living expenses
You’ll need to provide evidence, and your application will be assessed.
Compassionate grounds
If you don’t qualify for financial hardship, you may be able to apply through the Australian Taxation Office (ATO) for specific expenses, including:
- Medical treatment or transport
- Home or vehicle modifications for disability
- Palliative care, funeral or burial expenses
- Preventing foreclosure on your home
If approved, the ATO will instruct your super fund to release a set amount. Other conditions of release may apply.
5. Departing Australia Superannuation Payment (DASP)
If you’re not an Australian or New Zealand citizen or permanent resident and leave Australia permanently, you may be able to claim your super. Read more here.
Need help?
Super rules can be complex, especially when deciding how and when to access your savings. It may be worth seeking guidance before making a decision. We can connect you with financial advice*. When decisions matter, remember you can always talk to a real person. Our team is ready to help you.