How to Access or withdraw my super

Australia's Superannuation system was designed to fund the retirement of our growing population, so, typically, we cannot access or withdraw super until we retire.

However, there are some exceptions to this rule.

Popular ways to access super

Once you reach preservation age, which is typically in your mid-to-late 50's, you can begin to access super if you retire or enter a transition to retirement strategy.

If you are aged 60 or older and leave your employer, you may be able to access super, even if you plan to work again.

At 65, you can access super even if you are working.

How can I access my super early?

You may be able to access your super early if you fall into severe financial hardship, become permanently incapacitated, suffer a terminal illness, or for compassionate reasons.

How is super paid?

Your super benefit may be paid as a lump sum or income stream, depending on your circumstances.

What happens to my super if I die?

If you pass away, your super could be paid to a dependent as a lump sum or income stream. For anyone else, a lump sum can be paid.

How are super benefits taxed?

If you are over 60 and you have a 'taxed' super fund, you may be able to access your super money tax-free. However, tax on superannuation can get complicated, so it's best to speak to a qualified tax agent or refer to the Australian Tax Office's (ATO) website.

Test Your Knowledge

I'm under 56, awesome, and I want my super now. Can I access it?

Meeting an early condition of release (e.g. financial hardship, terminal illness, etc.) is the only way to access your super early (i.e. before 'preservation age'). If you have an invisibility cloak, please let us know.

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