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Make your personal contributions by 25 June 2024 to make sure they’re counted towards the 2023/24 financial year.

See important dates for more information.

A lump sum withdrawal is a cash payment from your super to your bank account. You can request to withdraw a lump sum if you’ve met certain conditions set by the Government. Follow these steps to make a full or partial withdrawal.

Key points: 

  • Make extra cash withdrawals from your super once you've met certain conditions.
  • To withdraw your money, you’ll need to login to your Member Online account and complete an application.
  • There is an application for withdrawing from your super account and a different application for withdrawing from your retirement account. The type of application you need depends on the type of account you have with Aware Super.
  • Once we receive your completed form is received, your money will be deposited into your bank account. You should receive this within 5 business days.
  • For financial hardship or on compassionate grounds, you can apply to make an early access withdrawal. You can apply through your Member Online account. 

How to make a withdrawal

Find out what you need to complete your application, how to apply and when you’ll receive your money.

What you’ll need before you apply:

  • your Aware Super member and account numbers. You can find these on your annual statement, which we send to you each year.
  • your employment details, if you’re still working.
  • details of the account you want your money transferred to – whether it’s a bank account or other super fund.
  • proof of identity documents such as Medicare card, Australian passport and driver’s licence.

How to apply

Log in to your Member Online account. Choose from one of the two options below:

  • Choose the Super Lump Sum Withdrawal. Use this form if you’re withdrawing from your super account.
  • Choose the Retirement Lump Sum withdrawal. Use this online form if you’re making extra withdrawals from your retirement account. This is on top of your regular income payments. This may impact your Centrelink benefits. If you have questions about how this could impact you, check with Centrelink or your adviser, if you have one.

When you can expect your money

Once we’ve received your form, we will:

  • Send you an SMS confirmation.
  • check that all requirements are complete. If there is information missing we will contact you for further information.
  • check your account to make sure the funds have transferred.  

You can track the status of your withdrawal request anytime through your Member Online account.

  1. login to your Member Online account
  2. Select Activities, then 
  3. ‘My Activities’. 

Your withdrawal will be processed within 3-5 business days provided we have everything we need.

Important things to consider before you withdraw 

  • You could reduce the income you have in retirement.
  • You could run out of savings earlier than expected.
  • If you keep your money invested in super it can continue to enjoy earning investment returns, which means you could retire with more.
  • You could pay more tax on investment earnings outside super.
  • Withdrawing super could affect your Government Age Pension entitlement. It’s a good idea to check the implications of taking out super with Centrelink.

Related information

Where to next?

Attend a retirement webinar

Join our experts as they break down super and finances into easy-to-understand topics through our live webinar education series.  

Learn more about retirement

We’re here to help you create your next chapter with confidence and guide you throughout your retirement. 

Open an account-based pension

Converting your super into steady income when you retire is easy with an account-based pension. An account-based pension at Aware Super is called a retirement income stream account.