Working in retirement

'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.

Set out below are all SuperGuide articles explaining Working in retirement.

Super contributions: $1 million opportunity

Gold_9141057_c

Q: I am aged 54. How much can I make in super contributions without attracting penalty tax? Is it $210,000 or $215,000 or some other figure?A: Before I answer your question in detail, for the benefit of other readers I will first explain the figures you quote in your question.The general … [Read more...]

Why women have to save more super

Women superannuation

When we first launched SuperGuide nearly 6 years ago, I wrote an article explaining why tax-free super in retirement is a non-issue for most women. The reason for making this statement, and which remains valid 6 years later, was that women, on average, have such low super account balances that the … [Read more...]

I’m retired. Can I make super contributions?

Pixmac000079452395_money

Q: If I have retired from work and later on inherit a reasonable sum of cash, can I make a non-concessional contribution into my superannuation fund? OR is that only permitted while I am working, regardless of my age?A: For the benefit of other readers, I will first explain the meaning of a … [Read more...]

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

Pixmac000082823027_withdraw

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...]

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

work_life

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...]

I’m 67. Can I access my super and continue working?

4956316341_81df868512_b

Q: I am going to be 67 years-old during 2015 and I am still working as a gardener. I would like to continue in employment for as long as possible. I have about $84,000 in super savings. Can I access $80,000 to put on the mortgage of our house and still continue working? Please let me know if this is … [Read more...]

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

460596293_d5b67f260a_z

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...]

If I ‘retire’, how soon can I return to work?

Q:I am 55 and plan to retire and take my super as a lump sum, primarily to pay off debts. Am I then able to:Return to work again and earn an income? And if so, how much? How soon after I retire and take a lump sum before I am able to return to the workforce? Am I entitled to work again and … [Read more...]

Cashing in on the co-contribution rules (2014/2015 year)

Pixmac000059278047_coins_contributions

Note: The co-contribution rules for the 2014/2015 year (and for the 2013/2014 and 2012/2013 years) are very different from the co-contribution rules applicable for the 2011/2012 year. For your reference and convenience, we have retained the co-contribution rules for these previous years, at the end … [Read more...]

Super concessional contributions: 2014/2015 survival guide

Pixmac000083306201_survival

Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap. A contributions cap sets a limit on the amount of contributions you can make in any one year.If you exceed … [Read more...]