Access your super

Superannuation is money saved throughout your working life to provide for your retirement. There are strict laws governing how and when you can access your super, called conditions of release.

It is illegal to access your super without first meeting a condition of release—find out more at the Australian Taxation Office website.

When you retire

Generally, you can gain access to your super once you have retired from the workforce and reached your preservation age. Your preservation age is set out in the following table.

• Eligibility

  You will be eligible to access your super when:

  • you have reached age 65 (regardless of your employment status)
  • you have reached age 60 and ceased an employment arrangement that meets the relevant requirements
  • you have reached your preservation age and have permanently retired from the workforce
  • the portion of your super you wish to access is classified as unrestricted non-preserved
  • you meet the criteria for early release of your benefit, or
  • you have reached your preservation age, are employed and access a Transition to Retirement income stream.

Other ways to access your super early

You may be able to access your super early in limited circumstances:

• Small account balance

  If you have less than $200 in your account and are ceasing employment with your employer. Find more information about early access of super on the Australian Taxation Office website.

• Severe financial hardship

  A claim for severe financial hardship may be made in certain circumstances. To qualify, members must be able to prove the receipt of a Commonwealth income support payment continuously for the last 26 weeks and provide a Q230 letter (from Centrelink) and a statement of income. Proof of inability to meet reasonable and immediate family living expenses is also required. A financial hardship claim generates a benefit payment of no more than $10,000 (gross) and no less than $1,000 and may be claimed only once in each 12 month period. Approval of any claim is not automatic and must be assessed in accordance with the relevant law. For more information, see our Fact Sheet. You can also find more information about early access of super on the Australian Taxation Office website.

• Compassionate grounds

  The Australian Tax Office (ATO) assesses applications for the early release of superannuation benefits on compassionate grounds and determines if they meet the specific legislative requirements. Circumstances where such applications may be considered include:

  • To pay for medical or dental treatment for yourself or a dependent or to pay for the transport to treatment
  • Prevent foreclosure on your home’s mortgage
  • Modifications to your home to accommodate your needs or the needs of a dependent because of a severe disability
  • Palliative care for yourself or a dependent with a terminal medical condition.

  To find out more, see our Fact Sheet. You can also find more information about early access of super on the ATO website.

• Temporary residents leaving Australia

  If you are working in Australia as a temporary resident, you may be eligible to claim your super money when you leave Australia. This payment is called the Departing Australia Superannuation Payment (DASP). Refer to the Australian Taxation Office for further information.

See the Australian Taxation Office factsheet and our product disclosure statement for more information about accessing your super.