In your 50s or younger? The super rules that apply to you

There are lots of rules when it comes to our super system. But not every rule applies to you at every age, so it’s worth figuring out which ones impact your age group.

The rules at different ages govern how much and when you can contribute to super, when you can get your hands on your savings and how much tax you will pay. These rules are designed to ensure super is used for its intended purpose – to provide retirement income – in exchange for the generous tax benefits on offer.

To make things a bit easier to understand, here’s SuperGuide’s simple explainer of the super rules if you’re under the age of 60.

Super rules if you’re in your teens, 20s, 30s, 40s or 50s

The super system is designed to help you save money for your retirement over your entire working life. It holds money contributed by you and your employer and will help supplement your income during your retirement years.

In the years leading up to age 60, there are no super rules applying specifically to your age group. Nevertheless, these are the years when you should pay attention to your super account to ensure it’s growing steadily, and your fund is providing you with the returns and services you need.

The rules that do apply to your super during these years are split between those covering:

• When money goes into your super account (contributions)
• When money comes out (withdrawing).