When can I access my super fund?

There are various laws governing when you can access your super and specific ages when super becomes accessible.

At 65

Generally, once you reach 65 your super becomes accessible to you whether you’re working or not.

At retirement

You can access you super when you permanently retire after reaching your preservation age.  Your preservation age depends upon the year in which you were born.

Transition to retirement

If you have reached your preservation age (currently age 55) but you have not retired, you are able to convert some or all of your super savings into a non-commutable pension, often called a transition to retirement pension. This pension will pay you income payments to supplement your salary.  This may assist if you reduce your work hours.

Conditions of release – access to your super before retirement

There are some conditions of release where you can access your super before retirement turning age 65. These include:

• Financial hardship
  Additional conditions apply and evidence will need to be provided to your super fund.  Please call BT on 132 135 for further information.
• Compassionate grounds
  Early release may be considered on compassionate grounds such as serious medical conditions, funeral expenses or to prevent a forced home sale. This is assessed by APRA.  For more information see APRA.
• Permanent incapacity
  Early release may be allowed if permanent incapacity prevents you from working and your condition means that it is unlikely that you will ever be able to work again.
• Terminal medical condition
  You may be able to access you super, tax free if you are suffering from an illness or injury and your doctors determine that it is likely that you will die as a result of the illness or injury within 12 months.
• Balance less than $200
  Access is allowed if, at the termination of your employment, your super balance consists of employer contributions and is under $200.  You can also access your super if your account balance is below $200 and that account was previously lost.
• Death
  To find out who can receive your benefit on your death and how to nominate beneficiaries click here.

Note: If you are or were a temporary resident, you can only access your super in limited corcumstances.  You should speak to a financial adviser for further information.