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.

For over-65s: Ten super tips when making contributions

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You can make voluntary superannuation contributions up to the age of 74 (that is, before you turn 75), and these can be concessional (before-tax) or non-concessional (after-tax) contributions. If you’re aged 65 or over, then you must satisfy a work test, if you intend to make super contributions. … [Read more...]

65 and over: making super contributions

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Q: From reading SuperGuide articles, I can see that for people between 50 and 74 years, the concessional contribution cap is $35,000 a year, and that for non-concessional contribution, the cap is $180,000. Is this $180,000 cap for NON-concessional contribution the same regardless of the age of the … [Read more...]

What are the super and retirement rules for over-65s?

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Q: My wife (age 63) and myself (age 65) have a small business. I was told by an organisation that at 65 or over I could put money into super, pay 15% tax on the way in and then draw it out when I wished and pay no tax. In fact I have been told to pay myself $30,000 or less and source the rest of my … [Read more...]

Age Pension: March 2015 rates now apply

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The Age Pension rates, effective from 20 March 2015, are set out in the tables below. A single person eligible for the FULL Age Pension can expect an annual Age Pension income (including Pension Supplement and Clean Energy Supplement) of around $22,365. A couple eligible for the FULL Age … [Read more...]

Updated life tables: Have our Australian life expectancies peaked?

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Australians born today are expected to live longer than Aussies born five years earlier, on average, according to the Australian Life Tables. The prospect of a longer life doesn’t seem to apply however if you’re a woman or man in your late-eighties or nineties (see tables 1 and 2 later in this … [Read more...]

Turning 55: Taking super, tax and timing

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Q: If at 55, I take up to $185,000 out of my super as a lump sum tax free, when I turn 60 will I be able to draw down as a lump sum the rest of my superannuation without having to pay tax as well? A: For an individual to access preserved super benefits they must satisfy a condition of release, … [Read more...]

I’m under 60. Does my super payout also affect my other income, and tax bill?

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Q: I have tried to phone the ATO re this query. Could you tell me the answer to this question? I turn 55 soon and I am eligible for a super payout of $185,554 next month of which only the $554 is taxable at 17.0%. However I still intend to keep working at my $58,000 a year job and wondered how this … [Read more...]

Tax-free super for over-60s, except for some

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If you withdraw your super benefits after you turn 60 years of age, you can expect to pay no tax on those super benefits, unless you are a member of certain public sector super funds (see summary table at the end of this article). Due to the large number of emails I have received about this topic … [Read more...]

Accessing super: Preservation age jumps to 56 years from July 2015

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Turning 55, retiring and accessing your super will become a thing of the past from July 2015. Anyone born on or after 1 July 1960 needs to push from their mind that the age of 55 is the ticket to superannuation access. From 1 July 2015, Australians turning 55 will have to wait at least another year … [Read more...]