Set out below are all SuperGuide articles that relate to Accessing super.
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You satisfy the retirement provisions of Australia’s super legislation if you have reached your preservation age, you have ceased gainful employment and you have no intention of becoming gainfully employed again in the future.
There are a series of hurdles you need to clear before you can access your super. The first is your age.
Retire at 60, grab your tax-free super and ride off into the distance. Sounds like a plan, but as with everything to do with super, the devil is in the detail.
You can access your super in Australia when you turn 65. It is the most straightforward condition of release. To apply for your super benefits you should contact your super fund.
On 22 March 2020 the federal government announced a temporary measure allowing individuals to access up to $10,000 of their superannuation in 2019/20 and a further $10,000 in 2020/21.
Retiring due to ill health is much more common than you might think, and it can severely impact your super. We look at some tips that can help if the unexpected happens.
Accessing super early due to severe financial hardship is possible under Australian law, provided that you meet strict eligibility conditions and your super fund allows it.
Learn the rules for accessing your super early on compassionate grounds, including for paying your mortgage if you are at risk of losing your home.
To legally access your super in Australia you must satisfy a condition of release. Different conditions of release have different payment conditions and tax implications.
Although there is no ‘retirement age’ in Australia, there are two ages that are important to know for planning your retirement…
Non-preserved super benefits can be either unrestricted or restricted. Unrestricted non-preserved benefits are the most common type. You will have these benefits if you are a member of a super fund and have satisfied a condition of release. If you do, you’ll be able to access your super on demand as either a lump sum or a pension.
Question: I’m an Australian citizen and want to retire in Italy when I’m 52. Can I access my super because I don’t plan on working again in Australia?
You can access your super benefits early under Australian law if you have a fund balance of less than $200 and your employment has been terminated – whether you lose your job or you quit it.
The Departing Australia superannuation payment (DASP) is available to departed temporary residents who worked and earned super in Australia. It is not available to permanent Australian residents, nor for Australian and New Zealand citizens.
You can access super benefits early due to temporary incapacity under Australian law, provided that the benefits come from specific sources.