When can I access my super?
Super is a long-term investment for your retirement. So the government has rules about superannuation withdrawal. They're called conditions of release.
How to access super early
In some cases, you may be able to withdraw some or all of your super before retiring or turning 65.
You can get money from your super at:
60+
If you retire or leave a job
65
Even if you haven't retired
Read the rules to access super before you apply to start using your savings.
Before you withdraw super
Have you spoken to a financial adviser? What you do with your super can have a big impact on your future lifestyle. It may also affect any insurance you have in super.
Your membership includes financial advice to help you make decisions about:
Different ways to withdraw /access your super
- How each option is taxed
- Your account and the Age Pension
- The best time and how much you may need to retire
Accessing super while still at work
Learn ways to ease into retirement that let you work less while still growing your super.
How to withdraw super
There are different ways to use your super. You can set up regular payments, or make one-off withdrawals. Or both.
The quickest way to apply for a superannuation withdrawal is through Member Online.
Ways to access your super
Income payments
Turn your super into regular payments using a retirement income stream. It’s a popular and tax-effective way to access your super.
You can open a Retirement Income account and/or Lifetime Pension by transferring some or all of your money from your Super Savings Accumulation account.
Then set up regular payments to your bank account.
Pros of income payments
Tax: Your investment earnings are tax-free, and income payments are also tax-free over age 60.
Income: Depending on your age and if you're still working, it could be a good option to replace or boost your income.
Investing: If you keep your money in your Income account, it stays invested in super while you get payments.
Cons of income payments
Min/max limits: The government sets a minimum amount for your income stream. So you have to take a certain percentage of your balance in payments each year, based on your age. For Transition to Retirement Income accounts, there's also a limit to how much you can take out each year.
Transfer limit: There's a limit on how much super you can transfer tax-free into a retirement income stream.
FAQs about withdrawal of super
Find out more about how super works in retirement and how our products work. Or see more FAQs.
Make your super last longer
You don't have to withdraw all your super when you retire. Instead, you can access part of your super with a retirement income product. They're made to help your savings last.
60-64
Transition to Retirement Income account
Start using your super while working, with a TTR account.
- Get payments while still working
- Continue growing your super
- Flexible payment options
60 and over
Retirement Income account
Adds flexibility by allowing you to change your payments and withdraw money anytime.
- Get an income for retirement
- Choose your investment options
- Flexible payment options
From 60th to 80th birthday
Lifetime Pension
Gives security in retirement, knowing your payments won't stop, no matter how long you live.
- Never runs out
- Possible Age Pension benefits
- Payments adjusted yearly