Preservation age
Superannuation law places restrictions on when you can access lump sums. One of these restrictions is called your 'preservation age' and is in addition to other restrictions when withdrawing your benefit.
You generally cannot access your entire benefit as a cash lump sum until you reach your preservation age (see table below).
Date of birth |
Preservation age |
|---|---|
Before 1 July 1960 |
55 years |
1 July 1960 to 30 June 1961 |
56 years |
1 July 1961 to 30 June 1962 |
57 years |
1 July 1962 to 30 June 1963 |
58 years |
1 July 1963 to 30 June 1964 |
59 years |
After 30 June 1964 |
60 years |
