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When can I access my super?
Because superannuation is designed to support you in your retirement, there are some restrictions on accessing your superannuation savings.
The Commonwealth Government requires that certain superannuation entitlements are 'preserved'.
These entitlements must remain in a regulated superannuation fund, deferred annuity, retirement savings account (RSA) or approved deposit facility until one of the following events occur:
- You reach age 65;
- Permanent or temporary incapacity established to the satisfaction of the Trustee;
- Death;
- Severe financial hardship established to the satisfaction of the Trustee based on specific guidelines;
- APRA approves early release (compassionate grounds);
- Permanent departure from Australia by eligible temporary residents;
- Termination of gainful employment (where preserved benefits are less than $200;
- You reach preservation age (see table below) and commence a non-commutable income stream. There is no requirement to cease a gainful employment'
- You reach age 60 and cease a gainful employment;
- Permanent retirement on or after you reach your preservation age (see table below).
| Date of Birth | Preservation Age |
| Before 1 July 1960 | 55 |
| 1 July 1960 - 30 June 1961 | 56 |
| 1 July 1961 - 30 June 1962 | 57 |
| 1 July 1962 - 30 June 1963 | 58 |
| 1 July 1963 - 30 June 1964 | 59 |
| On or after 1 July 1964 | 60 |
How is my preserved benefit determined? |
Up to 30 June 1999, your preserved benefits are made up of the following:
- Your own tax deductible contributions
- All employer contributions including Superannuation Guarantee and award contributions
- Preserved benefits transferred or rolled over from a previous fund
- Any interest earned on the above
- Less any fees and charges
From 1 July 1999, all contributions and investment earnings (including earnings on non-preserved amounts) are preserved. Employer Eligible Termination Payments rolled over after 30 June 2004 are also preserved.
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