'Working in retirement' covers the different scenarios that prospective Australian retirees may face when considering retirement.
An increasing number of retirees are combining part-time work and taking a superannuation pension, and possibly also receiving a part Age pension. Retirement is a fluid concept that may or may not involve ceasing full-time work.
If you're under the age of 65 and wanting to access super benefits, then 'retirement' generally involves ceasing full-time employment and making a retirement declaration, unless you intend to start a transition-to-retirement pension or you have unrestricted non-preserved super benefits. If you're under 65 and you decide to retire, then you can still return to work if your circumstances change, or you genuinely change your mind. If you're under the age of 65, then you can make super contributions whether you're fully retired, working part-time or working full-time.
If you're aged 65 or over, then you don't have to retire to access your super benefits (in nearly all cases). If you're aged 65 or over, then you must satisfy a work test if you wish to contribute to a super fund.
SuperGuide is Australia's only INDEPENDENT website for consumers on superannuation.
SuperGuide was founded by Trish Power, author of Superannuation for Dummies, DIY Super for Dummies, Super Freedom, and many other books on super and investing, and Robert Barnes.