By Roger Wilkins, University of Melbourne and Carsten Murawski, University of Melbourne The Abbott government’s deal with the Palmer United Party to freeze the minimum superannuation contribution rate at 9.5% until 2021 will not only cost retirees, it will also see future governments forced to bear the brunt of an increased reliance on the Age […]
Retirement is a condition of release for accessing super in Australia once you have reached your preservation age. Your preservation age is between 55 and 60, depending on your date of birth.
Retirement in the superannuation context means ceasing full-time or part-time gainful employment (i.e. paid work). When you retire, your super fund will generally require you to sign a form stating that you don’t ever intend to be gainfully employed in the future for more than 10 hours per week. 10 hours per week is the minimum requirement for work to be classified as part-time.
You can be retired in the superannuation context and still be working less than ten hours per week.
Learn more about the definition of retirement in the following key SuperGuide articles:
Set out below are all SuperGuide articles that relate to Retirement definition.