Testimonials


I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC


Super Facts and Tips

Accessing Superannuation Facts

Let's start with the basics. Once you reach the age of 65, you can have full access to your superannuation whether you're working or not. For those that haven't reached 65, you need to consider what the preservation age is.

A preservation age means that your super cannot be accessed and is preserved until you meet a condition of release or once you reach retirement. These things can be a little bit tricky, and you need to work on when the preservation age is.

For those who are born before 1st July 1960, the preservation age is 55. And in the next few years up to the 1st July 1964, the preservation age slowly goes up to the age of 60. The idea here is to make people work longer, contributing taxes to the government and building on your superannuation funds for longer.

Having Full Access to Superannuation

To have full access to your superannuation, you not only need to reach a preservation age but also need to meet a condition of release, which is essentially when you retire after reaching your preservation age, with no intention of going back to the workforce. Of, as mentioned before, once you reach the age of 65.

From the 1st July 2005, a new scheme was introduced known as a transition to retirement. There are no work or retirement tests to have access to your superannuation in this condition. However, you are limited to a maximum pension of 10% to fund balance each year. There are some tax-efficient strategies when using the transition to retirement strategy.

There are other options to your superannuation criteria under the ages above, but you need to meet other conditions. You need to be permanently incapacitated, qualify on the grounds of severe financial hardship, have a terminal medical condition, or been granted release by the Department of Human Services on compassionate grounds.

Accessing your super on these grants is tough and should not be seen as a viable option to fetch short-term money troubles. Thank you for taking the time to reading this article. You will find more superannuation for retirement information on www.australiansuperfinder.com.au on the Super for Retirement page.

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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