Withdrawing your super

Superannuation, or super, is money set aside during your working years for when you retire. However, there are some circumstances allowing super to be accessed before retirement.

Conditions of release

Conditions of release are the requirements set by the government that must be met to withdraw your super. Here are the common conditions of release:

• turning 65 years old (even if you haven’t retired)
• reaching preservation age (see below) and retiring or starting a transition to retirement income stream
• death

Additionally, there are also special conditions for early access to super.

What is the preservation age?

The preservation age is generally the minimum age at which you can access your super. From 1 July 2024, the preservation age in Australia is 60 years old, and you will be able to access to your super so long as you have either:

• reached 60 years of age and permanently retired from the workforce
• ceased an employment arrangement on or after the age of 60
• are over age 60 and have started a Transition to Retirement strategy
• turned 65, regardless of whether you’re still working or not. 

Early access to super

While super is money for your retirement, it’s possible to withdraw your super before you retire in special circumstances, including:

• compassionate grounds – if you need to pay for: 
• medical treatment or medical transport costs for you or your dependant
• mortgage to prevent bank from selling your home
• modifications to your home or vehicle to accommodate your or your dependant’s special needs arising from severe disability
• palliative care for you or your dependant
• expenses relating to your dependant’s death, funeral or burial.

• severe financial hardship – you may be able to access part of your super if you are experiencing severe financial hardship (if you are under your preservation age, one of the conditions is that you are unable to meet reasonable and immediate family living expenses like groceries, rent or medical costs). Eligibility conditions vary if you have reached your preservation age. Learn more about early super access under severe financial hardship here.

There are other grounds available and all eligibility conditions must be met. Applications need to be made to the ATO. Learn more about early super access on compassionate grounds here.

• permanent incapacity or terminal illness – if you’re permanently incapacitated or diagnosed with a terminal illness.

• temporary incapacity – if you’re temporarily unable to work your full hours or at all due to a medical condition
  
  
• First Home Super Saver (FHSS) scheme – if you’re eligible to withdraw under the FHSS scheme. Learn more about FHSS here.
  
  
• temporary resident departing Australia – if you were a temporary resident (excluding New Zealand citizens), have left Australia permanently and no longer hold any active Australian visa. Learn more about how the departing Australia superannuation payment works here.
  
  
• low super balance – if your super balance is under $200 and you've left your employment, or if you have found a 'lost super' account with less than $200. For Rest members, to withdraw this money, you’ll need to log into MemberAccess and select ‘Your Account’, then ‘Benefit quote', and complete the online benefit payment form.
  
  
• unrestricted non-preserved super – if you have ‘unrestricted non-preserved’ super (for example, benefits for which you previously met a condition of release and kept the money in your super fund). To find out whether you have this, check your most recent annual statement or Rest members can log into MemberAccess and select ‘Your Account’, then ‘Benefit quote’. To withdraw this money, you’ll need to complete the online benefit payment form within this section of MemberAccess.

For more information, see our Accessing your super early factsheet.