You can access your superannuation (super) in Australia generally when you reach your preservation age and meet certain conditions. Your preservation age depends on your birth date, ranging from 55 to 60 years old. As of July 1, 2024, the preservation age for those born after July 1, 1964, is 60 years. You can access your super when:
- You have reached your preservation age and have permanently retired.
- You reach 60 and have ceased working for an employer.
- You turn 65, even if you have not retired or are still working.
You may also access your super early under special circumstances like severe financial hardship, compassionate grounds, terminal medical conditions, permanent incapacity, or if you are a temporary resident leaving Australia. If you have preserved and unrestricted non-preserved super, unrestricted super can be accessed at any time. Transition to retirement options might allow you to access part of your super while still working after reaching preservation age. The preservation ages based on birth dates are:
Date of Birth| Preservation Age
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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
In summary, the most common access age now is 60 if you have retired or left a job, and you can access super at 65 regardless of employment status. Early access is possible in limited cases with approval.
