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Retirement age in Australia

Whether retirement is on the distant horizon or just around the corner, there are steps you can take to feel prepared and positive about life after work.


Working out when you can retire

One of the first questions you may have is 'When can I retire?'

While you can retire whenever you want if you can pay your own way. Your age, when you were born, and your work status determine when you can withdraw your super. This is known as your preservation age. The government sets the rules for this. For some, it will be as young as 55. For others it will be as late as age 60.

Work out your preservation age

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If you were born Your preservation age is

Before 1 July 1960


1 July 1960 – 30 June 1961


1 July 1961 – 30 June 1962


1 July 1962 – 30 June 1963


1 July 1963 – 30 June 1964


1 July 1964 or later 


Why does preservation age change depending on the year you were born?

The Government decides the preservation age rules. Recognising that people are living longer in retirement, it is gradually increasing the preservation age from age 55 to 60. It's designed to encourage Australians to grow larger super balances so they can retire with more money.

Preparing for retirement at any age

The decisions you make about your finances in the run-up to retirement can have a big impact on your future.

It’s important to get the balance right between saving for the future and achieving your other financial goals.

Now is always the right time for working out the detail of your plans and taking action.

Questions to get you started

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Retiring in the next 2-5 years Retiring in 5+ years
  • Am I ready to stop working?
  • How much do I need to retire?
  • Do I have enough money to retire yet?
  • What retirement account is best for me?
  • How do I maximise my super or defined benefit scheme, including minimising tax?
  • How do I continue to support any dependants?
  • Is my level of investment risk suitable and will my money last?
  • How healthy are my budget and spending habits?
  • How can I save more for the future?
  • What is the most effective way to pay off my debt?
  • Can I be doing more to build my wealth?
  • Should I be adding more to super and what’s the best way to go about it?
  • Am I getting the most from my investments?
  • What kind of life do I want when I retire and I am on track to achieving it?
  • Is my family protected if something goes wrong?

Already retired?

Managing your money and making decisions about your finances doesn’t stop when you retire. Many retirees continue to use the services of a financial planner to help guide their financial decisions. Some of the questions that can arise after you retire include:

  • Are my finances suitable for my lifestyle now that I’ve retired?
  • How can I access more money to meet my lifestyle needs?
  • What should I do with the money I’m not spending?
  • What do I need to do if I want to return to work?
  • How do changes to super legislation impact me?
  • My personal circumstances have changed, what do I do now?
  • I want to downsize my house or move into an aged care facility – how will that impact my finances?

Where to next?

Our financial planners are experienced in your State Super scheme. They can help you plan for a successful retirement.

Join a live seminar or webinar hosted by our experienced super experts, where they break down complex super and finance information into easy-to-understand topics.

You can get in touch with State Super about your account.