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.