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Retirement and part-time work

Section 3

It may sound like a contradiction but, for many, retiring still involves a job. Continuing to work in retirement provides plenty of positives - with the flexibility to enjoy time off, while still remaining engaged in work and receiving an income. In this section, you can explore:
 

  • Why going part time might work for you
  • The benefits of going into semi-retirement
  • How a Retirement Transition account works
  • Want to return to work after retiring?
Download checklist

Why you might choose semi-retirement

As you get older, your priorities may change - you might want or need to spend more time with family, volunteer or dive into a hobby. If you have a physical job, you might want work that’s easier on your body. Semi‑retirement can offer the flexibility you need to accommodate these changes.

Moving to part-time work can mean more free time for personal projects, while keeping the financial and social benefits of paid work. This helps you continue to build financial stability while easing your way into the next phase of life.

Mature age student saying bye to classmates

Benefits of semi-retirement

Stay connected in and out of work

Continuing with your work can maintain your sense of purpose, provide a structured routine and nurture social connections.



And in semi-retirement, you have  time to travel, enjoy hobbies, or spend time with family and friends.

Working in retirement
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Continue to grow your savings

The income you receive from work can help you:

  • Save more, so you can boost your super balance
  • Pay down your mortgage faster
  • Cover housing expenses
  • Cut down debt.
Grow your super for retirement
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Ease into retirement - tax free

When you're between 60 and 64, you can choose to wind back your working days, and access your super tax-free to supplement your income - or keep building your balance.

It's a great way to transition into retirement.

See how it works
Money bills
Did you know?
One study found that people who worked past 65 were around three times more likely to report being in good health and about half as likely to have serious health problems.^
Tax benefits when you transition to retirement

If you’re between 60 and 64 years old, you have a few options up your sleeve - including semi-retirement - where you can ease out of work and into retirement by cutting back how many days you work a week.

With a Retirement Transition account you can enjoy tax benefits while keeping your super invested, so it can continue to earn returns.[M5]

How it works
Mature aged female student

Want to return to work after retiring?

You’re not locked into retirement just because you’ve accessed your super. If you want or need to go back to work, you can. Here are a few areas worth considering:

  • Going back to work, and what you to do with your super
  • How returning to work may affect your Age Pension eligibility
  • What to do to keep growing your super savings
Learn more about returning to work
Health care female workers smiling
Returning to work after retiring

“When I retired, I went back to horticulture and picked up a job in a garden centre. I enjoy the social aspect of work. I work with a lot of young people, which keeps you in a decent mental state.”#

Read Brad’s story

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If you’re thinking about semi-retirement, this exercise will help you decide the pros and cons, and whether it’s the right option for you.

Download the activity sheet

Up next: Your money streams in retirement

In section 4, explore the different income streams available to you in retirement, including if you’re eligible to receive the Age Pension.

Go to next section Return to home

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Retirement tools and calculators

Our online digital tools help you plan and work out how much you need in retirement, based on the lifestyle you want and how long you need your savings to last.
Use the calculator
Calculator

Get a Retire Ready Check-in

Ready to retire now, or within the next 24 months? You can book a 45-minute Retire Ready Check-in with one of our expert financial advisers - all included as part of being an Aware Super member.[AD1][AD2]
Book a time
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Learn to make the most of your super

Find education events, resources and tools that make navigating your superannuation and retirement options super simple.
Visit Learn Hub
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^ Harvard, June 2018, Working later in life can pay off in more than just income.

# Members have provided their consent to the materials and statements attributed to them, in the form and context in which they appear and have not withdrawn this consent as at the date of preparation. The views expressed here belong to the individuals concerned and are not necessarily the views of Aware Super Pty Ltd.   No warranty as to the accuracy or completeness of this information is given and no responsibility is accepted by Aware Super Pty Ltd or its employees for any loss or damage arising from reliance on the information provided.  This information should not be construed as advice, whether it be general or personal advice, nor should it be substituted for obtaining professional financial, legal or tax advice. 

[AD1] Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by Aware Super. 

[AD2] Members can get advice about their Aware Super accounts at no extra cost, or advice on their broader needs for a fee.