Accessing your super

When and why

The government intends that super is used exclusively for retirement, but there are limited circumstances where it can be accessed early.

There are two basic conditions for accessing your super:

1.    When you turn 65  
2.    When you reach preservation age and retire

You might also consider a transition to retirement pension once you reach preservation age, to drawdown some super while reducing your working hours, or creating a more tax-effective income. 

Once retired, there are multiple options for receiving your benefit, including setting up a retirement income through a product like Equip MyPension and making partial or total lump sum withdrawals of your benefit.

Early access circumstances

There are limited circumstances where you can access your super savings early. These generally apply to medical conditions, severe financial hardship, or when non-citizens leave the country. Please see below.

Early access circumstances

Terminal medical conditions
If you have been diagnosed with a terminal illness or injury you may be eligible for early super access.

Financial hardship
If you are in financial hardship it may be possible to access up to $10,000 (gross) of your super.

Compassionate grounds
If you or your dependants suffer a severe medical condition, or face foreclosure, you may be eligible.

Permanent incapacity
If you become permanently incapacitated, you may be able to claim your super early.

Please contact our Helpline on 1800 682 626 for further information about early access to your super.