Your super doesn’t have to be your only source of retirement income.
Once you have retired, there is nothing to prevent you returning to work. Even if you declared you were permanently retiring in order to access super, working is an option. Your declaration must simply be a true reflection of your intentions at the time it is made, so if your circumstances change or even if you just find being idle doesn’t suit you, feel free to re-enter the workforce. Any super you already had access to remains available to you.
If you’re under 65, new super contributions you accumulate after your return to work won’t be accessible until you meet another condition of release. Once you reach 65, all your super can be accessed at any time, regardless of whether you’re working.
You might also choose to generate additional income by unlocking the equity in your home or by using investments outside super.
SuperGuide is Australia’s leading superannuation and retirement planning website.
Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629.
Not a member?
Learn more about becoming a SuperGuide member