| Your date of birth | Minimum age for getting your super benefits |
|---|---|
| After June 1964 | 60 |
| 1 July 1963 – 30 June 1964 | 59 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1960 – 30 June 1961 | 56 |
| Before 1 July 1960 | 55 |
Accessing your Super
Reaching preservation age is when a Member of the Fund can legally access the benefits in the SMSF. You can access your Superannuation balance when:
- You reach preservation age and retire permanently from the workforce
- You turned 65 but not retired
- You satisfy the Transition to Retirement rules while continuing to work
Preservation age varies depending on your date of birth (see table above). When you reach 65 there are no cashing restrictions. Superannuation balances are available at any time once a Member retires.
Reaching preservation age
On reaching the age of 65 and retired, an SMSF Member can take all or just part of the balance tax free by starting an Account Based Pension. Alternatively, Members can take a Lump Sum Pension.
For more info regarding pensions and conditions of release for Members to access their fund, please see here.
