At age 65, you can access your superannuation unconditionally — regardless of whether you are still working, retired, or partially working. Age 65 is a universal condition of release under superannuation law.
What Changes at Age 65
| Before 65 | At and after 65 |
|---|---|
| Must meet a condition of release (retirement, TTR, hardship) | Can withdraw super freely — no work test required |
| Tax may apply on withdrawals (ages 60–64) | All withdrawals from taxed funds are tax-free |
| TTR pension capped at 10% drawdown | No drawdown cap (though minimum pension rules still apply for account-based pensions) |
| Contributions may require work test (67–74) | Age 65–74: work test required for voluntary contributions |
All Withdrawals Are Tax-Free After 60
Once you are over 60 and accessing super from a taxed fund (which covers almost all industry and retail super funds), all withdrawals — lump sums and income streams — are completely tax-free. This applies from age 60, so by 65 the tax position is unchanged.
Withdrawals from an untaxed fund (some defined benefit schemes, particularly Commonwealth public sector funds) are taxed differently. Check your fund’s PDS.
Your Options at 65
1. Account-based pension (most common)
Convert your accumulation account to an account-based pension. Your balance moves into pension phase where earnings are taxed at 0% (instead of 15% in accumulation). You must draw a minimum pension each year based on your age:
| Age | Minimum drawdown (% of balance) |
|---|---|
| 65–74 | 5% |
| 75–79 | 6% |
| 80–84 | 7% |
| 85–89 | 9% |
| 90–94 | 11% |
| 95+ | 14% |
There is no maximum — you can draw as much as you like.
2. Lump sum withdrawal
Take your full balance (or part of it) as cash. Tax-free from a taxed fund if you are over 60. The Transfer Balance Cap ($1.9M for FY2025–26) limits how much can be moved into pension phase, not lump sum withdrawals.
3. Keep money in accumulation
You are not required to move your super into pension phase. Accumulation earnings are taxed at 15%, but if your super is invested for long-term growth this may be acceptable. Most people benefit from converting to pension phase to access the 0% earnings tax.
4. Leave it untouched
You are not required to withdraw super at 65. Super can remain in the fund and continue compounding.
Age Pension Interaction
At 67, you become eligible for the Age Pension (subject to income and assets tests). Super balances held in pension phase count toward both the income test (deemed income) and the assets test. Strategic planning of drawdown amounts can affect Age Pension entitlement.
See Super and the Age Pension for detailed interaction rules.
Contributing After 65
- Ages 65–66: No work test — contribute freely (concessional and non-concessional caps still apply)
- Ages 67–74: Must meet the work test (40 hours of gainful employment in 30 consecutive days) to make voluntary contributions
- Age 75+: No voluntary contributions allowed (except downsizer contributions, which have no age limit)
Frequently Asked Questions
Do I have to take a pension from my super at 65? No. There is no requirement to take a pension or make any withdrawal. Your super can stay invested in accumulation or pension phase at your discretion.
Can I contribute to super while drawing a pension at 65? Yes — if you meet the work test (ages 67–74). You can receive an account-based pension from one fund while contributing to the same or another fund.
Does my super count for the Age Pension assets test? Yes. From age 67, all super balances (in both accumulation and pension phase) are counted under the Age Pension assets test.
See also: Accessing Your Super. For advice on the most tax-effective way to draw your super at 65, speak with a licensed financial adviser. Find one through MoneySmart.