Retiring

If you’re getting close to retirement, it’s worth finding out what you need to consider before you leave the workforce for good.

The amount of your benefit that can be taken in cash when you leave the workforce is governed by preservation rules.

What is preservation?

Simply, preservation is restrictions the government has placed on when you can access your benefit.

Generally, your super benefit must be preserved in the superannuation system until you permanently retire from the workforce on or after reaching your preservation age.

Your preservation age depends on when you were born.

Exactly when you can access your benefit depends on its ‘preservation status’ under the government’s preservation rules.

Please see the relevant product disclosure statement for your membership category for further information.