Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.
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Knowing how much tax you’ll pay when you withdraw your super savings is important and the rules change once you reach age 60.
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For many people planning their retirement, age 60 sounds like a good time to leave the workforce. If that’s your plan, it’s important to ensure you understand the rules on accessing your super, how big your nest egg needs to be, the tax you might pay and any financial assistance you may be able to receive.