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 55+: Making serious decisions?

There are a range of options available to you when you reach minimum retirement age. You can start enjoying life after work, you can continue to work full-time, or you can phase in your retirement by reducing your working hours. Of course, your choices depend on your personal objectives, financial situation and employment conditions.

Do you want to retire now or later?

  • Can you retire now? 
  • Do you have any debts remaining?
  • How much super will you get if you stop work now?
  • Do you want to continue working full-time or will your employer reduce your hours so you can phase in your retirement?
  • Do you understand the tax and social security implications of your choices?
  • What does your spouse want to do? What retirement income will your spouse have?
  • Have you had a medical check-up?

Useful sources of information

Information for retirees, or people who will be retiring soon - a guide to the issues and decisions in retirement, designed to give you the facts so you can ask the right questions, produced by Australian Securities and Investments Commission

Centrelink planning for retirement service - an online guide to payments, services, programs, publications and forms relating to retirement

Superannuated Commonwealth Officers Association - a national organisation which seeks to improve and safeguard the value of superannuation benefits of government employees and superannuants and their families and also seeks to build and maintain those services important for promoting well being and financial security in retirement.

National Information Centre One Retirement Investments - a free service which aims to improve the level and quality of investment information provided to people with modest savings who are investing for retirement or facing redundancy. 

Councils on the ageing - an independent consumer organisation which protects and promotes the well-being of older Australians.

Department of Finance and Deregulation Superannuation branch – this branch supports the Minister for Finance and Deregulation, with his responsibilities for superannuation for Australian Government employees and Commonwealth parliamentarians.

The learner investor site - an online guide to the world of investing published by the Eureka Report which aims to inform, advise, guide and educate investors.

www.seniors.gov.au - a single point of access to Government and non-Government information and services for Australians over 50 published by the Australian Government.