Super Guide for your 60s

If you are under the age of 65, you can make superannuation contributions whether you are working or not. If you're planning to make non-concessional (after-tax) contributions, special rules apply if you are aged 63 or 64.

If you're in your 60s, milestone ages to consider include 60 (tax-free super), and turning 65 (work test for making contributions, unlimited access to super benefits, pension payment factors).

When you turn 65, the rules for accessing super are relaxed. The rules for making super contributions however, become stricter. If you’re 65-plus, you must satisfy a work test if you want to make super contributions.


When you turn 70, your employer no longer has to make Superannuation Guarantee contributions on your behalf (although this rule is set to change from July 2013).

When you turn 75, you can no longer make super contributions. When taking a pension, different pension payment factors apply depending on your age.

Note that the Age Pension age is currently 65 but gradually increasing to age 67.

Set out below are all SuperGuide articles explaining Super Guide for your 60s.

Are you eligible for a Commonwealth Seniors Health Card?

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IMPORTANT: The government has indexed the income test thresholds for the CSHC, effective from September 2014. The income test thresholds will be now indexed annually from September of each year. WARNING: From 1 January 2015, new applicants for CSHC will need to include superannuation pension … [Read more...]

Age Pension: September 2014 rates now available

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The new Age Pension rates, taking effect from 20 September 2014 are set out in the tables below. A single person eligible for the FULL Age Pension can now expect an annual Age Pension income (including supplement, and Clean Energy Supplement) of around $22,212. A couple eligible for the full … [Read more...]

Superannuation Guarantee increased to 9.5% for 2014/2015 year, then stalls for 7 years

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From 1 July 2014, the Superannuation Guarantee rate increased to 9.5% (from the 9.25% that applies for the 2013/2014 year). Based on advanced legislation currently before parliament, the SG rate will remain at 9.5% for 7 years, increasing to 10% from July 2021, and eventually to 12% from July 2025 … [Read more...]

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...]

CSHC income test: What is untaxed superannuation and taxed super?

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Note: This article explains how super benefits are counted towards the Commonwealth Seniors Health Card. If you are seeking more detailed information on the CSHC changes announced in the 2014 Budget, or whether you’re eligible for a CHSC, see SuperGuide articles Seniors Health Card (CSHC) changes to … [Read more...]

Accessing super early: Terminally ill receive tax break

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Individuals with a terminal medical condition are able to access their super lump sum payments tax-free, regardless of age. A super fund can release super benefits to a member if they have a terminal medical condition. According to the legislation, a terminal medical condition exists if two … [Read more...]