Superannuation and finances when you retire

Your superannuation

When you can access your superannuation

You can retire at any age but to access your superannuation (super) you need to reach preservation age. This is different from Age Pension age, which is 67 years or older.

You can find out your preservation age on the Australian Taxation Office (ATO) website.

How to withdraw your super when you retire

You can choose to get your super in these ways:

• a super income stream, which is a series of regular payments
• one or more lump sums, if your super fund allows it
• a transition to retirement income stream (TRIS).

Talk to your super fund about how you can withdraw your super. You can find out more about your super withdrawal options on the ATO website.

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

Find lost super

You may have unclaimed super from previous employment. Find out about searching for lost super on the ATO website.

Plan your finances for your retirement

Planning your retirement finances is important to make sure you have enough money to last. You may have different income streams throughout retirement to consider.

Find resources that can help you work out how you can fund your retirement.