Access rules

Superannuation is designed so that generally you cannot access it until you retire. In return for the restrictions placed on accessing super, the Government provides tax concessions in super. The circumstances where you can access your super are listed below.

Aiming to preserve your future

Circumstances	Conditions
Reaching age 65	Once you reach age 65 your super becomes accessible, regardless of whether you are still working or not.
Fully retiring after your Preservation age	You can permanently retire at your “Preservation age” and access your super (dependent upon the year you were born – see table below). For most people this will be a minimum of age 60.
Transitioning to retirement after age 55	People aged from 55 can convert some or all of their super into a non-commutable pension and access income payments while they are still working.
Financial hardship	Early release of benefits may be allowed if you have been receiving a Commonwealth income support payment for 26 continuous weeks and cannot meet reasonable and immediate family living expenses.
Compassionate grounds	Early release may be considered on compassionate grounds such as serious medical conditions, funeral expenses or to prevent a forced home sale. Check the conditions.
Permanent incapacity	Early release may be allowed if permanent incapacity prevents you from working.
Balance is less than $200	Access is allowed if, at the termination of job, balance consists of employer contributions and is under $200.

Are you a 60s child? Take note

Date of birth	Preservation age
After June 1964	60
July 1963 – June 1964	59
July 1962 – June 1963	58
July 1961 – June 1962	57
July 1960 – June 1961	56
Before July 1960	55

Find out more about investment

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Learn about BT's super funds.