You can generally access your super once you turn 60 and retire, or once you turn 65 whether you have retired or not. Here's when (and how) you can access your super.
When you turn 65 you can access all of your super, even if you're not retired.
To accesss your super before 65 you need to meet a specific condition of release.
Once you reach your preservation age of 60 you can access your super if you retire, or start a transition to retirement pension while you keep working.
What is superannuation - and why can't I touch it (yet)?
Superannuation is a fundamental part of the Australian retirement plan. Superannuation savings grow over your working life, thanks to regular contributions from your employer (and you can make your own super contributions, too). Withdrawing from your superannuation account is subject to specific criteria known as "conditions of release" which makes it extremely difficult to access until you're retired (or close to it).
The reason you can't access your super early is because superannuation is designed with the sole purpose of funding your retirement. If you accessed it too early, you potentially wouldn't have the money you need when you're no longer working.
When can I access my super?
In general, you can access your super when you meet a condition of release.
Condition 1: You've reached your preservation age (more on this below) and retired
Condition 2: You've reached your preservation age and changed your employment in order to start a transition to retirement pension
Note that you only need to meet one of these conditions, not all, to be able to access your super.
Expert insight
"Understanding when you can access your super is key to achieving financial independence. Planning early—especially for women, who often retire with less—means you'll be better positioned to fund the lifestyle you want later in life."
Pascale Helyar
Superannuation and wealth expert
Condition 1: Accessing your super at your preservation age
Your preservation age is the age at which you can access super if you have retired. Since 1 July 2024, the birth-year sliding scale that used to set this between 55 and 60 has fully phased in, so your preservation age is 60 no matter when you were born. You'll need to wait until you're 60 and also retired to access your super this way. Note that if you plan to retire and access your super at this age, your intention to retire must be genuine and your super fund will likely get you to sign a declaration on this.
Is preservation age the same as pension age?
No, preservation age differs from pension age. Preservation age is when you can access your superannuation upon retirement or when transitioning to a retirement pension account.
In contrast, the age pension is a government payment designed to provide income to eligible Australians who may not have sufficient means, like superannuation, to retire comfortably. For people born in 1957 onwards the pension age is 67 years.
FICTIONAL CASE STUDY: Jim has worked as a bricklayer for 30 years and has decided it's time to retire. Now aged 61, Jim has already passed his preservation age of 60. However, because meeting your preservation age on its own isn't a condition of release, he needs to officially retire in order to access his super. Jim logs into his super account online and submits a withdrawal request, notifying his fund of his intention to retire and not work again. His fund assesses his claim and notifies Jim on how much of his super balance he is eligible to access now, prior to turning 65.
Condition 2: Starting a transition to retirement pension
If you've reached your preservation age and want to start accessing your super without having to retire, you can start a transition to retirement (TTR) pension instead.
This involves speaking with your super fund and transferring some of your balance into an account-based pension that you can access. The rest of your balance stays in your super fund.
Pros and cons of a transition to retirement pension
Pros
Keep working. You can access part of your super without having to retire completely.
Reduce your hours. You don't need to remain full time, you can reduce your hours or work part time and start a TTR pension.
Super remains invested. The majority of your super will remain invested in your super fund, so it will continue to grow.
Supplement your income. It can allow you to reduce your hours if you want to work less, but don't want to retire.
Cons
Limits apply. There is a limit to how much of your super you can access via a TTR pension each year.
Minimum payments. There is also a minimum amount you need to access from your super each year, which may be more than you'd like to withdraw.
Reduce your balance. The sooner you access your super money, the sooner it will run out.
Condition 3: Accessing your super at age 65+
Once you turn 65 you can access your super without needing to retire (although you can if you want to!). This is because turning 65 is a condition of release in itself - you only need to retire if you're planning to access your super before you turn 65.
You have the choice of receiving your super as one lump sum payout, or setting up an account-based pension and receiving a portion of your balance each year like a salary.
How can you access your super early?
If you don't meet one of the above 3 conditions of release, it's very difficult to access your super. However, there are some situations when you can be grated early release of your super. These grounds are very limited and include:
On compassionate grounds
You can make a claim for an early superannuation release on one or more of the following compassionate grounds:
Maor medical treatment
Mortgage assistance in cases of severe financial hardship
Home or motor vehicle modifications in the event of a disability
Palliative care
Funeral assistance
Severe financial hardship
If you're under your preservation age, you can apply on severe financial hardship grounds if you've received eligible government income support payments for a continuous 26 weeks and can't meet reasonable and immediate family living expenses. You can withdraw between $1,000 and $10,000 once every 12 months. If you've reached your preservation age plus 39 weeks, there's no dollar limit provided you've received income support for a cumulative 39 weeks since then and weren't working when you applied. Apply directly to your super fund - the ATO doesn't process these requests.
Permanent disability and death
Death and permanent incapacity can also allow you access; provided that you have complete medical proof that you will be unable to work again.
Here's when you can't access your super early
As mentioned above, you can only access your super early in very limited and extreme circumstances. You can't access your super early to:
Buy a car
Fund a home rennovation
Pay off general debt
Pay rent or mortgage payments
Travel overseas
Our expert says
"Be cautious with any businesses or schemes that promise to help you get access to your super early. These could be promoted to you via social media, email or even in person by someone claiming to be a financial advisor. These are most often scams, and will charge you a fee without ever providing you access to your super. If you're ever unsure, it's always best to speak with your super fund directly."
Once you've met a condition of release and are eligible to access your super, here's how to get it:
Decide how to access it. Choose if you want to start an account-based pension or make one big lump sum withdrawal (or a few big lump sum withdrawals).
Submit a request. If you want to withdraw your super, log into your super account online and submit a transaction request. Once approved, you should be able to complete your withdrawal in just a few business days.
Open an account-based pension. If you want to start an account based pension, open the account online by completing the online application form. You don't need to choose the account-based pension offered by your current super fund, but you might find it easier to do so. You can then submit a transaction request from your super fund.
Frequently Asked Questions
You can generally access your super when you reach preservation age and retire, or once you turn 65 regardless of retirement.
No, unless you meet a limited early-release condition, such as severe financial hardship or a terminal medical condition. Preservation age is 60 for everyone, so you generally can't access your super until you turn 60 (and retire) or 65.
Your preservation age is 60. The birth-year sliding scale (55 to 60) fully phased in on 1 July 2024, so everyone now has a preservation age of 60.
Yes, once you turn 65 you can access your full super balance even if you're still working.
Most funds release super within 5–10 business days after approving your application, though processing times vary.
No, you can only access your super early in very rare, extreme situations. this needs to be approved by your fund and also the ATO.
Sources
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To make sure you get accurate and helpful information, this guide has been reviewed by
Pascale Helyar, a member of Finder's
Editorial Review Board.
Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards.
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I am about to loose my job, I am 56 years of age, born November 1963, I will be getting a package, that should last me until I get to my Super Preservation age of 59, I don’t entend to get another job – can I access my full fund at this time or only a proportion of it?
NikkiFebruary 21, 2020
Hi Kent,
Thanks for your comment and I hope you are doing well.
As you are 56 years of age, this is a year over the preservation age of 55. This means you can access your superannuation fund when you are about to retire or stops working. According to our review, the most common conditions of release that allow you to access super benefits early are:
Reaching your preservation age and retiring
Reaching your preservation age and starting a transition to retirement pension while continuing to work
Reaching 65 years of age (even if you have not retired)
Being aged 60 to 64 years and ceasing an employment arrangement.
Passing away (in this case, your super death benefits will go to your nominated beneficiaries)
Contact your superfund to know the full process of accessing your super. Should you have further questions, please feel free to message back anytime.
Best,
Nikki
CarolJuly 19, 2019
Hello. I am 62 years old nearly 63. I am going to retire at the end of this year. I would like to take a lump sum as I have reached my preservation age, will this be possible.
NikkiJuly 20, 2019
Hi Carol,
Thanks for your question. You can very well receive your super as a super income stream, super lump sum or a combination of both. Check with your fund to find out what options are available to you.
The super withdrawal option that you choose may affect the amount of tax you pay and the amount of money you have for your retirement so check this with the Australian Taxation Office as well.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki
StuartDecember 12, 2018
Hi I’m 58 years old and still working, I don’t make any contributions myself
I need a fair bit of work done on my teeth am I able too take some of the funds from my super account
Finder
MayDecember 18, 2018Finder
Hi Stuart,
Thanks for your question.
I understand that you’d want to get access to your super funds. Generally, you can access your super when you reach the preservation age (which starts at 55 years old) or during retirement. However, these are not the only requirements, but you also need to meet specific eligibility criteria so you’ll be approved. The grounds you’d need to be mindful of includes:
I want to pay for my dads funeral from my super fund care super as I’m going through hard ship
NikkiJuly 24, 2018
Hi Bianca!
Thanks for your message.
Sorry to hear about your Dad’s funeral.
Generally, you can use your savings from your Superfund after the age of 55.
TravisJune 2, 2018
Is there any way I can transfer approximately $40,000 from a super industry account to a smsf and then use that money to invest in anything I choose?
Finder
JeniJune 3, 2018Finder
Hi Travis,
Thank you for getting in touch with finder.
Basically, you just have to complete the rollover initiation request form to transfer whole balance of superannuation benefits to your self-managed super fund. Since you mentioned a certain amount to transfer, I suggest that you visit Australian Securities and Investments Commission website at http://www.moneysmart.gov.au or the ATO website at http://www.ato.gov.au/super. regarding this matter or simply phone the ATO on 13 10 20.
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I am about to loose my job, I am 56 years of age, born November 1963, I will be getting a package, that should last me until I get to my Super Preservation age of 59, I don’t entend to get another job – can I access my full fund at this time or only a proportion of it?
Hi Kent,
Thanks for your comment and I hope you are doing well.
As you are 56 years of age, this is a year over the preservation age of 55. This means you can access your superannuation fund when you are about to retire or stops working. According to our review, the most common conditions of release that allow you to access super benefits early are:
Reaching your preservation age and retiring
Reaching your preservation age and starting a transition to retirement pension while continuing to work
Reaching 65 years of age (even if you have not retired)
Being aged 60 to 64 years and ceasing an employment arrangement.
Passing away (in this case, your super death benefits will go to your nominated beneficiaries)
Contact your superfund to know the full process of accessing your super. Should you have further questions, please feel free to message back anytime.
Best,
Nikki
Hello. I am 62 years old nearly 63. I am going to retire at the end of this year. I would like to take a lump sum as I have reached my preservation age, will this be possible.
Hi Carol,
Thanks for your question. You can very well receive your super as a super income stream, super lump sum or a combination of both. Check with your fund to find out what options are available to you.
The super withdrawal option that you choose may affect the amount of tax you pay and the amount of money you have for your retirement so check this with the Australian Taxation Office as well.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki
Hi I’m 58 years old and still working, I don’t make any contributions myself
I need a fair bit of work done on my teeth am I able too take some of the funds from my super account
Hi Stuart,
Thanks for your question.
I understand that you’d want to get access to your super funds. Generally, you can access your super when you reach the preservation age (which starts at 55 years old) or during retirement. However, these are not the only requirements, but you also need to meet specific eligibility criteria so you’ll be approved. The grounds you’d need to be mindful of includes:
Each of this ground is explained in detail above.
You may also want to check the guide about accessing your super early, which you might find useful.
I hope this helps.
Cheers,
May
I want to pay for my dads funeral from my super fund care super as I’m going through hard ship
Hi Bianca!
Thanks for your message.
Sorry to hear about your Dad’s funeral.
Generally, you can use your savings from your Superfund after the age of 55.
Is there any way I can transfer approximately $40,000 from a super industry account to a smsf and then use that money to invest in anything I choose?
Hi Travis,
Thank you for getting in touch with finder.
Basically, you just have to complete the rollover initiation request form to transfer whole balance of superannuation benefits to your self-managed super fund. Since you mentioned a certain amount to transfer, I suggest that you visit Australian Securities and Investments Commission website at http://www.moneysmart.gov.au or the ATO website at http://www.ato.gov.au/super. regarding this matter or simply phone the ATO on 13 10 20.
I hope this helps.
Have a great day!
Cheers,
Jeni