Withdraw when retired

To access your super savings, generally you need to have reached your preservation age and permanently retired from work.

Your preservation age is 55 if you were born before 1 July 1960. Higher preservation ages apply to younger people.

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
After 1 July 1964 60

Open a retirement income account

A retirement income account is a great way to get an ongoing income, as well as flexibility of having income payments and being able to make lump sum withdrawals.

A About retirement income accounts gives you a regular income paid into your bank account. You can also use your income payments to top up your Government Age Pension payments.

You don’t have to be retired to open a retirement income account. If you’re over 55, you can access some of your super by starting a transition to retirement strategy.

Why not try the Retirement Income Calculator and see how long your money will last?

How to make a lump-sum withdrawal

To withdraw your super as a lump sum, you can either:

  • Log into your account and complete the Benefit payment form
  • Call us on 1300 300 273 weekdays between 8.00am and 8.00pm (AEST/AEDT) and we’ll send you:
    • A quote of your account balance
    • An application form.

If you call and request an application form, you’ll then need to complete and return it along with any documents requested, including your proof of identity.

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Retirement income

Once you retire, a Choice Income account will give you a regular income to live on.