How super works

This section covers the most popular questions on how superannuation works, including how to find lost super, how super works, how much money is enough, and simple step-by-step superannuation guides.


Below are some of our key How super works articles:

Set out below are all SuperGuide articles explaining How super works.

Accessing super early: 14 legal reasons to cash your super

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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 when suffer redundancy, illness or other forms of misfortune. We receive hundreds of emails from … [Read more...]

Accessing super: What is my preservation age?

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We receive hundreds of questions each year asking when you can retire under the super rules, and any special conditions you need to meet before you can take your super benefits. The key concept that every Australian needs to be aware of in terms of superannuation, and accessing super benefits, is … [Read more...]

Are you eligible for a Commonwealth Seniors Health Card?

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IMPORTANT: The government has announced that the income thresholds for singles ($50,000) and couples ($80,000) will be indexed in September 2014; the first time since 2001. From 1 January 2015, new applicants for CSHC will need to include superannuation pension income when assessing CSHC … [Read more...]

Financial advice: Only 34 (12 + 13 + 9) independent financial advisers in Australia

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Note: This article is updated regularly when new financial advisers join the independence club (latest update August 2014). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent … [Read more...]

Can I access super early due to ‘severe financial hardship’?

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Q: I am in financial hardship. Can I withdraw my super to pay my expenses? A: I’m sorry to read about your circumstances. Yes, in certain circumstances individuals suffering financial hardship may be able to access a portion of their super benefits. You must apply to your super fund to claim … [Read more...]

Super for beginners, part 24: Do I have to withdraw my super when I turn 65?

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Q: I retired, sold my large house, downgraded, invested spare money and one month after I invested, I lost $50,000 just like that. I would like to know whether I can keep my super going beyond age 65, maybe to age 67 to help recoup my losses on my outside investment? A: I’m very sorry to read … [Read more...]

Accessing super early on ‘compassionate grounds’

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If you are having financial trouble, or you are suffering chronic illness, or you require significant medical attention, you may be able to access your super benefits early. If you require medical treatment, or medical transport for medical treatment, then you may be able to apply for early … [Read more...]

If I retire before 60, when can I access my super?

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Q: I am 56, nearly 57. If I decided to retire before 60 when can I access my super? If you have reached your preservation age AND retire, then you can access your super benefits. Australians can have a preservation age ranging from 55 years to 60 years, depending on date of birth. I assume … [Read more...]

Unrestricted access to super, sometimes

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Q: I left Australia in 2001, but I was part of a super fund from about 1993/4. I see from your 14 legal reasons to cash your super article, that I may be able to access my restricted benefit. You write: "Cease employment and have certain pre-1999 super benefits. If you’ve been a member of a super … [Read more...]

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

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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...]