Access your super in retirement

You can return to work, however you can’t access any contributions from your new employer if you are under age 65. You’ll either need to leave that job or turn age 65 before you can start drawing down on any new super you have accumulated.

If you accessed your super because you stopped working when you turned 60, you can continue to access the super you had originally accessed. 

If you’ve reached 60 and aren’t yet ready to retire, you may be able to access some of your super while you’re still working by opening a Transition to Retirement (TTR) Income account.

A TTR Income account can help you reduce your working hours without reducing your income, by supplementing your salary with payments from your super.

Once you turn 65, you can access your super even if you continue working – there’s no requirement to retire and you don't have to stop working.

Depending on your age, withdrawals and income payments from your super may be taxed. 
If you're 60 years of age or over, payments from super are tax-free. Lump sum withdrawals are also  tax-free if you are age 60 year or over.
If you're under 60, the taxable portion of any income payments will be taxed at your marginal tax rate (plus Medicare levy). Lump sum withdrawals when you’re under 60 are taxed at your marginal tax rate or 22%, whichever is lower.

Yes, lump sum withdrawals and payments from your super can affect the benefits you’re receiving from Centrelink.

Understanding the impact of your super on the Age Pension can be complex. You can get assistance with how to maximise your Age Pension entitlements and retirement income by speaking with a CareSuper financial adviser.  

The easiest and quickest way to check your eligibility and make part withdrawals from your super online is via Member Online.