Superannuation in Australia is preserved — meaning you generally cannot access it until you reach your preservation age and meet a condition of release. Understanding when and how you can access your super is essential for retirement planning.
Preservation Age — When Can You First Access Super?
Your preservation age is the earliest age at which you can access your super under most conditions. It depends on your date of birth:
| Date of birth | Preservation age |
|---|---|
| Before 1 July 1960 | 55 |
| 1 July 1960 – 30 June 1961 | 56 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1963 – 30 June 1964 | 59 |
| After 30 June 1964 | 60 |
Anyone born after 30 June 1964 (the majority of current workers) has a preservation age of 60.
Conditions of Release
Reaching preservation age alone does not automatically give you full access to your super. You must also meet a condition of release:
Full access conditions
| Condition | Description |
|---|---|
| Reached preservation age and retired | Preserved super fully accessible as lump sum or income stream |
| Reached age 65 | Full unrestricted access regardless of employment status |
| Ceased employment after age 60 | Can access entire super regardless of whether you intend to return to work |
| Permanent incapacity | Permanently unable to work in any capacity |
| Terminal medical condition | Certified by two medical practitioners |
| Death | Paid to beneficiaries or estate |
Transition to Retirement
Once you reach preservation age, you can start a Transition to Retirement (TTR) income stream while still working — drawing a pension of 4–10% of your account balance each year. This allows you to supplement your income while reducing work hours, or redirect salary sacrifice into super. See Transition to Retirement Strategy Australia.
Accessing Super Before Preservation Age (Early Access)
There are limited circumstances where super can be accessed before preservation age:
| Condition | Details |
|---|---|
| Severe financial hardship | Must have received Centrelink income support for 26 continuous weeks AND be unable to meet reasonable and immediate family living expenses. Maximum $10,000 per 12-month period |
| Compassionate grounds | ATO can approve access for specific expenses: medical/dental treatment, palliative care, home loan default, death/disability insurance premiums |
| Terminal illness | Certified by two medical practitioners that death is expected within 24 months |
| Permanent disability | Medical certification required |
| Temporary residents departing permanently | Can claim super on departure from Australia |
Super is not accessible for: house deposits, holidays, car purchases, credit card debt, or other general financial difficulties. Accessing super under fraudulent circumstances is a serious criminal offence.
Tax on Super Withdrawals
Tax on super withdrawals depends on your age and the components of your super:
- Under preservation age: Super withdrawals are heavily taxed — generally not permitted except under exceptional conditions
- Preservation age to 59: Taxable (concessional) component taxed at 20% (+ Medicare levy) up to the low rate cap (~$235,000 in FY2025–26); 0% below that cap for the tax-free component
- Age 60+: All super withdrawals generally tax-free for most individuals
See Super Withdrawal Tax Australia for a detailed breakdown.
Related Articles
- Preservation Age Australia
- Account-Based Pension Australia
- Transition to Retirement Strategy Australia
- Super Withdrawal Tax Australia
- Retirement Investing hub
Frequently Asked Questions
Can I access my super at 55? If you were born before 1 July 1960, your preservation age is 55. Most Australians currently working have a preservation age of 60. At preservation age, you also need to meet a condition of release (e.g., retire or start a TTR income stream).
Can I access my super to buy a house? Not directly. Super is preserved for retirement. However, if you are a first home buyer, you may be able to access voluntary contributions made from 1 July 2017 under the First Home Super Saver Scheme (FHSS) — but this applies only to voluntary contributions, not compulsory employer contributions.
What happens to my super if I die? Your super does not automatically form part of your estate — it is distributed according to your binding death benefit nomination (or the fund trustee’s discretion if no nomination exists). Ensure your nominations are current.
This article provides general financial information only. For advice tailored to your situation, speak with a licensed financial adviser through the ASIC financial advisers register or MoneySmart.