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Although there is no ‘retirement age’ in Australia, there are two ages that are important to know for planning your retirement:
- Preservation age: This is the age when you can access your super funds provided you have also met a condition of release (such as retiring or turning 65).
- Age Pension age: This is the age when you can access Australia’s Age Pension, provided that you’re an Australian resident and you pass both the income test and the assets test.
The age you become eligible for these have changed over the years, and are dependent on your date of birth. Like many things in superannuation, working these out for yourself are not as straightforward as they could be. To help out we’ve built a Retirement age calculator.
How to use the Retirement age calculator
Note: When the calculator first appears, by default it shows the result for 1st January 1960.
In the calculator below
- Click on the date.
- Select the year of your birth from the dropdown menu
- Select ‘next’ until you find the month of your birth, then select your birthday
- If you were born before 1 January 1949 you will also need to select your sex.