Accessing super when you retire

Information on accessing your super and what to expect when you retire.

How much super you need to retire

The amount of super you need for retirement will depend on your circumstances. The Moneysmart website has information and resources to help you figure out how much super you need when you retire.

You may also want to learn more about getting financial help for retirement.

When you can access your super

You can access your super when you retire and reach your preservation age. Your preservation age is between 55 and 60 and is based on when you were born.

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
After 1 July 1964 60

If you want to keep working part-time

You may be able to reduce your working hours without reducing your income when you reach your preservation age. Your part-time working income will be supplemented with your super savings.

Find out more about transition to retirement on the Australian Taxation Office (ATO) website.

How to withdraw your super

You can choose to get your super in one or both of these ways:

  • a super income stream, as a series of regular payments
  • one or more super lump sums, if your super fund allows it.

You can find out more about your super withdrawal options on the ATO website.

Tax implications

The super withdrawal option you choose may affect how much tax you pay. The ATO website has information on how tax applies to your super.

Find lost super

If you think you have lost super, there are ways to search for it through the ATO. 

Find out more about how to search for your lost super and who can have unclaimed super on the ATO website.

Page last updated: 18 January 2024