Accessing super early

You can access superannuation benefits when you retire, or when you satisfy another condition of release.

In this section you can also learn more about the conditions of release that permit you to claim your super before you retire, that is early access or early release of superannuation benefits.

We receive a lot of emails from readers asking for information about accessing super early due to severe financial hardship (see also SuperGuide article Can I access my super early due to financial hardship?)

You can also apply on compassionate grounds for accessing super early (see also SuperGuide article Accessing super early on ‘compassionate grounds’).

For a summary of the 14 legal ways to access your super benefits, including permanent disability, and starting a transition-to-retirement pension (TRIP), see SuperGuide article Accessing super early: 14 legal ways to withdraw your super benefits.

Below are some of our key Accessing super early articles:

Set out below are all SuperGuide articles explaining Accessing super early.

Accessing super early: 14 legal ways to withdraw your super benefits

Many Australians are facing hard times, especially with structural change transforming our economy. The harsh reality is that mortgage repayments and everyday living expenses continue even when you suffer redundancy, illness or other forms of misfortune.We receive hundreds of emails from our 2 … [Read more...]

Super for Beginners (25 Q&As)

One of SuperGuide’s more popular initiatives has been the development of a ‘Super for Beginners’ section that answers some of the many questions that we receive from those readers who are new to superannuation and new to super’s terminology.The series currently consists of several lead articles, … [Read more...]

What is the retirement age in Australia?

In Australia, there is no official retirement age but there are special rules that apply to the age when you can withdraw your superannuation benefits (preservation age), and to the age when you can claim the Age Pension (Age Pension age).You can discover your preservation age (for accessing … [Read more...]

Super for beginners, part 12: I claimed my super due to hardship. Why do I have to pay tax?

Q: I’m 30 years old. Last year I claimed $5,000 of my super due to financial hardship – I suffered illness, and was not able to work. I only received $3,800. Will I get the balance back, since I haven’t worked since then?A: Unfortunately, when you access your super benefits before the age of 60, … [Read more...]

Super for beginners, part 10: Can I access my super early to reduce my mortgage?

Q: I owe approximately $190,000 to the bank on my 2-bedroom unit, and I would like to know if I can invest my $60,000 of super into the unit to reduce my mortgage repayments to the bank?A: Superannuation is subject to special access rules called preservation. What this means is that you cannot … [Read more...]

Super for beginners, Part 9: If I retire and take my super, can I return to work?

Q: I am 57 years old. Apparently you can get a lump sum of super before 60 if you have permanently retired. Can you still later look for work again? How do you prove you have permanently retired?A: The question that you ask is in the top 10 questions that we receive at SuperGuide. The term … [Read more...]

Retiring before the age of 60: the tax deal

If you retire before the age of 60, your super benefit payments are likely to be subject to tax — but not always. With the right structure, and usually with expert advice, many Australians retiring early can end up paying no tax.If you’re willing to wait until you turn 60 before you retire, you … [Read more...]

Less tax, more super? A transition-to-retirement pension may no longer be the answer

On 3 May 2016, in the 2016 Federal Budget, the Coalition (Liberal/Nationals) government announced that, from 1 July 2017, it intends to remove the tax exemption on pension fund earnings financing a transition-to-retirement pension (TRIP). The removal of the tax exemption, subject to legislation, … [Read more...]

The super challenge: At what age should I retire?

Selecting a retirement age, even if you plan to continue some form of work during retirement, can be a difficult decision. In some cases, individuals don’t get a choice about when to retire due to health issues, or due to redundancy in later years and then difficulty finding another job.Although … [Read more...]

Repay debts with super: then claim Age Pension

Q: I have read about the changes to the Age Pension assets test taking effect from January 2017. My question is, can I pay my superannuation into my mortgage, live off my private savings and then receive the Age Pension when I turn 65? My age pension age is 65, because I was born in June 1952.A: … [Read more...]

Property and super: What’s the deal? (15 popular Q & As)

We receive many questions from readers about investing in property using super money. Questions range from: ‘Can I withdraw my super to buy a house to live in?’, right through to ‘How can I use my super fund to borrow money to invest in property?’.For the convenience of our 2 million readers, I … [Read more...]

Does changing to part-time at 60 years, count as ‘retiring’?

Q: I am 60. I am interested in the condition of release relating to turning 60 and resigning. Is it sufficient to satisfy the ’60 and resign’ condition of release by changing my employment arrangement from full-time to part-time, with the same employer?A: Most super benefits are preserved until … [Read more...]