In Australia, you can generally access your superannuation when you reach your preservation age and retire permanently. From 1 July 2024, the preservation age is set at 60 years. You can also access your super if you reach age 65, regardless of whether you have retired. Additionally, if you have reached your preservation age but are not ready to retire, you may access some of your super through a transition to retirement income stream. There are also special circumstances where you can access your super early, such as in cases of severe financial hardship, compassionate grounds, terminal medical conditions, permanent incapacity, or if you are a temporary resident leaving Australia. To summarize:
- Access at preservation age (60) and permanent retirement.
- Access at 65 years regardless of retirement.
- Transition to retirement income stream after preservation age.
- Early access in special circumstances like financial hardship or compassionate grounds.
This means for most people, access starts at age 60 upon retirement or at age 65 regardless of employment status.
