In Australia, the age at which you can access your superannuation depends mainly on your preservation age and your retirement status. The preservation age is typically between 55 and 60, depending on your date of birth, but from 1 July 2024 it is set at 60 for everyone. You can access your super when you:
- Reach your preservation age (usually between 55 and 60) and permanently retire.
- Are aged 60 or older and have ceased employment.
- Reach age 65, even if you have not retired.
- Access your super early in limited circumstances such as severe financial hardship or terminal illness.
If you reach 60 and leave a job, you can access the super you've earned. From age 65, you can access your super regardless of your work status. Also, there is an option called the transition to retirement pension, which allows access to some super from preservation age if you are still working. In summary, generally, you can access your super from age 60 provided you've retired or left employment, or at age 65 regardless of work, with exceptions for early access under special conditions.
