Superannuation Age Milestones
Your complete guide to super access ages, from first contributions to retirement and beyond.
What's Your Preservation Age?
Your preservation age is the earliest you can access super (if you've retired).
| 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 |
| From 1 July 1964 | 60 |
Super Contributions Begin
Employers must pay Super Guarantee (12%) on your wages
- ✓ No minimum income threshold since 2022
- ✓ Can make personal contributions
- ✓ Can start building your retirement savings
Insurance Starts
Default insurance cover often begins automatically
- ✓ Check your fund for default insurance
- ✓ Consider if cover suits your needs
- ✓ Premiums deducted from your balance
Preservation Age
Earliest age you can access super (depends on birth date)
- ✓ Can access if permanently retired
- ✓ Can start Transition to Retirement (TTR)
- ✓ Cannot access if still working full-time
Key Access Age
Major milestone - tax-free withdrawals available
- ✓ Can access super if ceased a job after 60
- ✓ Withdrawals are tax-free
- ✓ Transition to retirement income is tax-free
- ✓ No preservation age restrictions if born after 1/7/1964
Full Access
Unrestricted access to super regardless of work status
- ✓ Can access all super tax-free
- ✓ No need to retire or leave a job
- ✓ Work test removed for contributions
- ✓ Can still contribute until 75
Age Pension Age
Eligible for Age Pension (if meet income/asset tests)
- ✓ Pension age for everyone born after 1/1/1957
- ✓ Super + pension can be combined
- ✓ Income and asset tests apply
- ✓ Can still work and receive pension
Contribution Cut-Off
Last birthday for making super contributions
- ✓ Must make contributions before 75th birthday
- ✓ Downsizer contributions still allowed after 75
- ✓ Can receive SG from employer any age
Conditions of Release
You can access super before preservation age only under specific circumstances:
Early Access Conditions
- • Severe financial hardship
- • Compassionate grounds (medical, funeral, etc.)
- • Terminal medical condition
- • Permanent incapacity
- • Temporary resident departing Australia
Standard Access Conditions
- • Reached preservation age and retired
- • Reached age 60 and left employment
- • Reached age 65
- • Transition to retirement (while working)
- • Death benefit (to beneficiaries)
Transition to Retirement (TTR)
Once you reach preservation age, you can access super while still working:
How It Works
Start a TTR pension to receive regular income from super while continuing to work.
Limits
Can withdraw 4-10% of your TTR balance per financial year.
Tax Benefits
After age 60, TTR income is tax-free. Before 60, taxed at marginal rate less 15% offset.
Super vs Age Pension
| Aspect | Superannuation | Age Pension |
|---|---|---|
| Access Age | 60-65 | 67 |
| Source | Your savings | Government |
| Income Test | No | Yes |
| Asset Test | No | Yes |
| Max Single Rate | Depends on balance | $1,116/fortnight |
| Can Combine? | Yes - super + part pension common | |