How to Claim Your Super When You Retire — Step-by-Step Guide

Your super doesn’t arrive automatically when you retire — you need to contact your fund and make a formal withdrawal request or set up a pension. Here’s how the process works, what you’ll need, and the key decisions to make.

Before You Start — Check You Meet a Condition of Release

You can only claim your super once you have met a condition of release. The most common is reaching your preservation age (60 for those born after 30 June 1964) and retiring. See When Can I Access My Super? for the full list of conditions.

At age 65, you can access your super regardless of whether you’ve retired.

Step-by-Step: Claiming Your Super on Retirement

Step 1 — Locate All Your Super

Before you can claim, you need to know where all your super is. Australians with multiple jobs may have multiple super accounts.

• Log in to myGov and link your ATO account
• In the ATO section, select “Super” — this shows all accounts the ATO knows about
• Note each fund name, account number, and balance
• If you find old or lost accounts, consolidate before claiming if possible (see Consolidating Super)

Step 2 — Decide Between Lump Sum, Pension, or Both

This is the most important decision. Consider:

Most retirees use a combination. For a full comparison, see How to Withdraw Your Super.

Step 3 — Contact Your Super Fund

Call or log in to your super fund’s online portal. You will need to:

• Confirm you’ve met a condition of release (some funds ask for a signed declaration)
• Choose your withdrawal method (lump sum, pension, or both)
• Provide your bank account details for the payment
• Complete a withdrawal or pension application form

Step 4 — Complete Identity Verification

Your fund is required to verify your identity before processing a significant withdrawal. You’ll typically need to provide:

• Driver’s licence or passport
• Tax File Number (TFN)
• Bank account details

If you haven’t provided a TFN, the fund may withhold tax at the top marginal rate — always ensure your TFN is registered with your fund before you retire.

Step 5 — Set Up Your Account-Based Pension (If Applicable)

If you are starting an account-based pension, you will need to specify:

• The amount to transfer into the pension (can be partial — leave some in accumulation if you wish)
• The payment frequency (monthly, quarterly, or annual)
• The annual payment amount (must be at least the minimum — 4% of balance for those under 65)
• Your investment option for the pension account

Step 6 — Update Your Centrelink Information (If Relevant)

If you receive the Age Pension or other Centrelink benefits:

• Notify Centrelink of changes to your financial assets within 14 days
• Your super balance (once you reach pension age) and any pension payments count in the means test
• An account-based pension counts under the deeming rules for the income test

Failure to notify can result in overpayments that must be repaid.

Step 7 — Update Your Tax Withholding and PAYG

If you are under 60 and receiving super income stream payments:

• Your fund will withhold tax and issue a payment summary (now called an income statement)
• You will need to include the taxable portion in your annual tax return

After age 60, all super withdrawals and pension payments are tax-free — you generally don’t need to include them in your tax return.

What If You Have Multiple Super Funds?

If you retire with super in multiple funds:

1. Consolidate first (optional): Rolling all balances into one fund before retiring simplifies the process and may reduce ongoing fees. Be aware of insurance implications — consolidating may cancel insurance in one or more accounts.

2. Claim from each fund separately: If you prefer to keep accounts separate (e.g. different investment strategies), you must contact each fund individually and complete separate withdrawal or pension applications.

3. Transfer balance cap applies across all accounts: The $2.0 million transfer balance cap (FY2025–26) is a combined limit — the amount you can have in pension phase across all funds. If your total super exceeds this, seek advice on how to structure your accounts.

Timeline — How Long Does It Take?

Super funds are required by law to process requests promptly. If a fund is taking significantly longer, you can contact ASIC or AFCA.

Frequently Asked Questions

What if I retire but my partner is still working? Your partner’s employment situation does not affect your ability to access your own super. Once you have met a condition of release, you can claim your own super regardless of your partner’s circumstances.

Can I claim super if I take early retirement (voluntary redundancy)? If you are at preservation age (60) and have taken voluntary redundancy and do not intend to return to work 10+ hours per week, you likely meet the retirement condition of release. Contact your fund — most will ask you to sign a declaration confirming your retirement intention.

Do I need a financial adviser to set up a pension account? You are not required to use a financial adviser. Most people set up account-based pensions directly with their fund online or by calling the fund. However, if your super balance is large, you have complex tax or estate planning needs, or you want to consider products outside your current fund (e.g. annuities), advice can be valuable.

Do I lose my death benefit nomination when I retire and move to pension phase? This depends on your fund. Some funds require you to renew your death benefit nomination when you convert to pension phase. Check with your fund — an lapsed or invalid nomination can result in your super being paid to your estate and distributed under your will (or intestacy laws if no will exists).

For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.