Generally, you must reach ‘preservation age’ before you can access your super (explained in the table below). There are some exceptions, though, such as for medical or hardship reasons (outlined in the How Super Works Guide) or when transitioning to retirement.
First Home Super Saver Scheme
If you’re on the hunt for a first home, you may be able to use some of your super to save for a deposit. To find out whether you’re eligible to withdraw up to $15,000 in any one financial year (total maximum of $30,000) to buy your first home, visit: ato.gov.au/fhss
In the 2021 Federal Budget the Government announced the proposed change to the maximum releasable amount of voluntary concessional and non-concessional contributions. For more information on this proposed change read our 2021-22 Federal Budget Wrap Up
What is your preservation age?
Your preservation age is the age at which you can access your benefits if you’re permanently retired. It depends on your date of birth.
When you can access your super
If you were born on or before 30 June 1961, you can access your super now. If you were born after this date, check the table below.
Born on or between | Preservation age |
1 July 1961 and 30 June 1962 | 57 years |
1 July 1962 and 30 June 1963 | 58 years |
1 July 1963 and 30 June 1964 | 59 years |
1 July 1964 to now | 60 years |
There may be limited circumstances where you can access your super before your preservation age. To do so you need to meet a 'condition of release'. Our How Super Works Guide outlines the conditions of release, how to access benefits for medical reasons, and other factors worth considering.
Transition to retirement
You can also access some of your super from age 55, while you're still working, with a transition to retirement strategy.
How can I access my super?
Once you’ve retired, you have 3 options. You can:
- leave your money in your super account
- have your superannuation benefit paid out as a lump sum
- transfer some or all of it to an Energy Super Income Stream Account.
Read our How Super Works Guide for more information.
To make a withdrawal, submit a Benefit Payment Request Form.