In Australia, you can access your superannuation when you reach your preservation age and have permanently retired from the workforce. From July 1, 2024, the preservation age is 60 years. You can generally access your superannuation in these ways:
- If you have reached age 60 and have ceased gainful employment or permanently retired.
- At age 65, you can access your superannuation whether or not you have retired.
- If you have reached your preservation age but have not permanently retired, you may access part of your super through a transition to retirement income stream.
- There are also special circumstances allowing early access, such as severe financial hardship, compassionate grounds, permanent incapacity, terminal medical condition, or if you are a temporary resident leaving Australia.
If some of your super is unrestricted non-preserved, you may access this at any time. Your preservation age depends on your date of birth. For those born after July 1, 1964, it is 60 years. For those born earlier, the preservation age ranges between 55 and 60 years.
