Preservation age increases to 56

preservation age increase

If you celebrate your 55th birthday in the 2015/16 financial year, you can access your super once you turn 56.

Your super is intended to support you in retirement, so in order to access it you must be permanently retired after reaching your preservation age. Your preservation age is set by the Australian Government, and depends on when you were born.

To cater for the rising life expectancy of the population, the Government has legislated the preservation age to gradually increase from 55 to 60. While it has been planned for some time, the 2015/16 financial year is the first to be impacted by the increase. 

Those born after 30 June 1960 will need to be aged 56 or older to access their super. To find out when you can access your super, use the table below.

Date of birth Preservation age
Before 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
From July 1964 onwards 60

There are some special circumstances where your preserved super can be accessed before you reach your preservation age. Find out more about accessing your super

First published:

Jun
26

Last updated:

Mar
22

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