21 Sep 2021
What is Annual Net Income?
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In Australia, you can access your super at age 65, when you retire, or when you reach your “preservation age,” which is anytime between the ages of 55 and 60. Your preservation age depends on the year you were born. If you have reached your preservation age but haven’t fully retired, you can still access part of your super using a transition to retirement pension. In some cases, you may be able to access a defined benefit pension starting at age 55. However, this depends on the fund you have.
Yes, however, there are restrictions on when you can access your super early. These circumstances include:
Once you’ve reached your preservation age plus 39 weeks, you can apply for any amount in your super if:
If you have not reached your preservation age, you can apply to receive up to $10,000 of your super for any of the reasons listed above if:
If you have a question about accessing your super, contact the financial experts at Mortgage House.