The short answer is yes, you can generally return to work after retiring and accessing your super. But before you polish off your CV and check out job listings, there are a few things to consider.
How old were you when you first accessed your super?
I accessed my super after turning 65 OR I left a job and accessed my super after turning 60
Good news! You’re free to go back to work full-time, part-time or casually. You can also change jobs or start a new business.
I was under 60 when I retired and then I declared permanent retirement after I turned 60 to access my super
If this situation applies to you, you probably had to sign a declaration for your super fund saying that you had ‘permanently retired’ from the workforce.
Under super rules, this means you ceased gainful employment and didn’t intend to work for more than 10 hours per week in the future.
This declaration must be genuine at the time. However, it doesn’t mean that you can’t return to work if your circumstances change or an opportunity comes up that’s too good to refuse.
When you submit your next tax return, you may have to prove to the Australian Taxation Office (ATO) that your past declaration was genuine at the time.
Do you still get paid super if you return to work after retiring?
Yes, you should receive super contributions from your new employer. If you already closed your super account, you’ll need to open a new one. You can open a Rest Super account online in less than five minutes.
If you’re under 65, you generally won’t be able to access these super contributions until you meet another condition of release. However, you’ll still have access to the rest of your super balance.
Do you have to move your super back into a super account if it’s in a pension account?
No, you don’t. You can continue receiving regular pension payments and making lump sum withdrawals from your pension account (e.g. Rest Pension), even though you’re working again.
Can you return to work if you receive the government Age Pension?
Yes, you’re allowed to return to work even if you’re receiving Age Pension payments.
There’s no restriction on how many hours you can work, but you’ll need to report your new income to Centrelink within 14 days of starting your new job. This may mean you’re no longer eligible for the Age Pension, or your payments might reduce.
If you’re eligible to receive the government’s Work Bonus, you can earn up to $300 per fortnight without this income being counted as part of your Age Pension eligibility.*
What are the tax implications of returning to work after retiring?
Income from your job
Your income will be taxed at marginal tax rates.
Super account
Lump sum withdrawals are tax-free if you’re over 60.
Pension account
Regular payments and lump sum withdrawals will continue to be tax-free.
Need to talk it over first?
Our Super Specialists can answer your questions and connect you with a Rest Adviser if needed.
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