To start an AustralianSuper Pension you must be 55 or older and have:
- access to your super because you've partially or permanently retired or meet the minimum preservation age (see more about preservation age below)
- at least $10,000 in super.
If you’re over 18 and have access to an unrestricted non-preserved component or you can access your super due to total and permanent disability, you may also be eligible for an AustralianSuper Pension.
When you’re ready to open a pension account, you need to complete the pension application form.
Your preservation age
By law, your super is money set aside to fund your retirement. You can only get it when you’ve satisfied certain conditions of release such as permanently retiring and reaching your preservation age:
| If you were born |
Your preservation age is |
| 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 |
| 1 July 1964 or after |
60 |
If you haven’t retired but you’ve reached your preservation age you can still open up a pension by selecting the Transition to Retirement option.
This option may be an effective way to reduce your tax bill and may help grow your savings.