When can you access your super?
Superannuation is designed to be your retirement savings, so you normally can’t take out your super until:
You turn 65 years old, or
You reach age 60 and retired or leave a job after you turn 60.
But in special cases, you may be able to withdraw some of your super early.
Options for early release of super
Financial hardship options
If you’ve been on Centrelink income support payments for a certain time, you might be able to take out some of your super. Eligibility criteria apply.
You can take out some or all of your unrestricted non-preserved super, if you have any. (Log in to check.)
Medical access options
You may be able to take out some super on compassionate grounds to pay for medical costs, funeral expenses for a dependant, or mortgage repayments in default.
If you’re diagnosed with a terminal illness, you can take out your super and make an insurance claim for any Death cover on your account.
If a medical condition stops you working in your old job ever again, you can withdraw some super and maybe also make an insurance claim.
Other ways to access super early
First home buyers can add extra money (additional contributions) to their super, then withdraw this money for a house or home loan deposit.
If you had a temporary visa and worked in Australia, you can withdraw your super when you leave Australia. This is the the Departing Australia Superannuation Payment (DASP).
Risks of accessing super early
Withdrawing some or all of your super early (before retirement) could affect:
- How much money you have to spend in retirement
- How much tax you pay
- Any insurance on your superannuation account
- Any government benefits you get (e.g. Centrelink Jobseeker).
Compare ways to access super early
Each option for accessing your super early lets you take out a different amount of super. There are also different criteria for each option.
| Early access option | Eligibility criteria | How much super you can take out |
|---|---|---|
| Financial hardship | You receive eligible government income support and unable to meet reasonable and immediate living expense. | Depending on eligibility criteria, the most you can take out is $10,000 (before tax) in a 12-month period (unless you’ve reached preservation age and 39 weeks). |
| Withdrawing unrestricted non-preserved super | You might have unrestricted non-preserved super if you'd worked before 1 July 1999. | Any unrestricted non-preserved amount |
| Compassionate grounds | Medical and/or financial hardship | ATO decides how much |
| Permanent incapacity | Medical conditions | Up to your full balance + any TPD insurance |
| Terminal illness | Medical conditions | Up to your full balance + any Death insurance |
| First Home Super Saver (FHSS) Scheme | First home buyers | Up to $50,000 + earnings |
| Temporary residents leaving Australia | Temporary visa | Full balance |