How does a Pre-Retirement Pension work?
If you are still working and have reached your super Preservation Age (see below), you have the option to access your superannuation in the form of a Pre-Retirement Pension.
While you're still working, your own, and your employer's super contributions will continue to be paid into your Superannuation account.
For example, a person may finish working full time but continue part time work, and use some of their super pension to supplement their reduced income.
How to apply for a Pre-Retirement Pension
Full details and all the forms you'll need to apply are contained in the Product Disclosure Statement (PDS), which you should consider before making any decision.
Preservation Age
The table below shows your Preservation Age, which is the age at which you can access (in cash) your preserved superannuation benefits if you have retired from the workforce.
|
Date of birth |
Preservation Age |
|---|---|
|
From 1 July 1964 onwards |
60 |
|
From 1 July 1963 to 30 June 1964 |
59 |
|
From 1 July 1962 to 30 June 1963 |
58 |
|
From 1 July 1961 to 30 June 1962 |
57 |
|
From 1 July 1960 to 30 June 1961 |
56 |
|
Before 1 July 1960 |
55 |
Need help?
Consider consulting a financial planner before you invest. MyLife MyPension has a team of professional financial planners who can assist you. Our financial planners are salary based and do not receive any commissions or bonuses based on recommendations they make.
To make a financial planning appointment, please complete our online booking form or call us on 1300 963 720, or click here to learn more about MyLife MyAdvice.