When you can withdraw your super

You may get early access to your super in specific circumstances:
 

• Severe financial hardship
• Terminal illness or permanent disability
• Compassionate grounds like medical treatment
• First home deposit (through the First Home Super Saver Scheme)
• Temporary residents leaving Australia permanently.

No, if you’re between 60 and 64 years old, a Retirement Transition account lets you access some of your super while you’re still working. At 65, you can access your super regardless of whether you work or not.

No, you can keep your super in your Aware Super Future Saver accumulation account or a retirement account. Many people choose to leave their money invested in super because of the tax benefits and professional investment management. When you need to access your super or have turned 65, a retirement account might work best for you. Your investment earnings in a Retirement Income account are tax free, where investment earnings in your Future Saver super account are taxed at 15%. 

You can return to work after retiring and accessing your super. You’ll need to have an accumulation account so that your employer can pay any new contributions. These new contributions will be preserved until you meet another condition of release or turn 65.

After age 60, most people can withdraw their super tax-free. Before 60, you might need to pay some tax on your withdrawals. The amount depends on whether you're taking a lump sum or income stream, and whether the money comes from taxable or tax-free components of your super.

Yes, when you’re 65, your super is yours to use.

For example: you might take a lump sum to pay off debt, then set up a Retirement Income account for regular payments. This flexibility lets you adjust your withdrawals to suit your needs.

The preservation age is 60 years old. Even if you've reached preservation age (60), you still need to meet a condition of release to access your super before age 65.

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Yes, there are several ways to access super while working part-time:
 

• If you're 65 or over, you can access your super regardless of work status
• Between 60-64, you might qualify if you've changed jobs
• You could open a Retirement Transition or Retirement Income account.

Your super balance and how you withdraw it can affect your Age Pension. It's worth checking how different withdrawal options might affect your pension entitlements.

• If you move some of your super into a Retirement Income account and choose to leave your Future Saver account open, any insurance you have through your accumulation account may still remain active. You’ll need to leave at least $6,000 in your Future Saver account. 
• If you move all your super to a Retirement Income account and close your Future Saver account, any insurance in your super accumulation account won't carry over. 
• Consider whether you need to arrange alternative insurance cover before making the switch.