Withdrawals

You can access your super if:

• you’re 65 or over, whether you’re working or not.
• If you’re between 60 and 64 and have changed an employer since turning 60 but are still working.

Another option, if you’re between 60 and 64, is to start a Retirement Transition account.

You can also apply to access your super early, but you’ll need to meet certain conditions.

• You can’t access your super until you reach 60 except under early access rules. Tax may apply.
• If you’re 60-64 years old, you can access your super if you meet a condition of release.
• If you’re 65, you can access your super, whether you are working or not. Withdraw online now from your Aware Super Retirement Income or Retirement Transition account.

If you’re having financial hardship, it’s a good idea to understand the application process first.

When you turn 60, all your payments to yourself from your Retirement Transition or Retirement Income accounts are tax free.

You’ll need to apply for early access via Member Online. You’ll need:

• Proof of your income support payments
• Proof of identity
• Relevant documents proving financial hardship from your bank or Services Australia.

This step-by-step application guide can walk you through if you qualify and what you’ll need to apply.

• Withdrawals usually take 5–7 business days. You’ll get a confirmation by email or in Member Online.
• If you have set up income payments from your retirement account, your funds will hit your bank account according to your nominated schedule.

Please allow an extra two business days if you bank with a credit union, or if your payment date falls on a nationwide public holiday.

1. Log in to your Member Online account
2. Choose Withdrawals from the drop-down menu
3. Complete the online transaction.

Yes, lump sum withdrawals from a Retirement Income account are tax-free.

Yes, if you’re 65 you can use your super however you like. For example, you might take a lump sum to pay off debt or go on a holiday, then set up a Retirement Income account for regular payments.

This flexibility lets you adjust your withdrawals to suit your needs.

If you're between 60 and 64, you can only access your super if you've met certain conditions of release.

No, if you withdraw a lump sum, your regular retirement income payments won’t be affected. But your overall balance will reduce. So it’s good to check your account regularly to make sure you know how much you have left.^[M5]

See how your super balance can affect your Age Pension eligibility

No, you can’t add money back directly into your Retirement Income account.

However, if you’re eligible to contribute you can start a new Future Saver super account.^[S1]

Please consider your needs and situation carefully before you make any decisions about opening a new account.

Yes, if you are over 65, or if you’re between 60 and 64 and you’ve met certain conditions of release.