When can I access my super?

[@AboutRetirementTV]

Haver you reached your Preservation Age? What is your plan for your super now?

[@treelover7566]

Yes I want to pay out my mortgage

[@choychanma5695]

Thank you, Katherine. So informative.

[@oodleyboo]

I will reach Pres. Age in two more years. I would like to work part time to start enjoying other things instead of working every day. I am mortgage and debt free, with strata, water, elect and food to pay. I am thinking about opening a transition to retirement account and putting my earnings in there before tax, then drawing an income from that.

[@AboutRetirementTV]

Sounds like a great plan oodleyboo, just make sure you check your life expectancy, and the money last you for life. Great job 👍

[@m2comp369]

Thought that Preservation Age and accessing my Super was awesome! What you should be aware of is that it simply means accessing only a portion of it tax free. In my Defined Benefit Scheme the tax free component is up to 205k, but 17% tax on any amount over it. Why the hell wouldn’t I wait 12 months to get to 60 (preservation age 59 in my case) and take it all tax free. 60 is the magic number!! Typically Super companies want to hang on to your money as long as possible and will dissuade you against accessing it sooner than later!

[@AboutRetirementTV]

That is correct, preservation age is just the access to super date, tax is another issue altogether. And yes, 60 is the magic number 😀

[@aussietaipan8700]

Hi Kath, thanks for this, I was not sure on the preservation age for me (currently 60 yr old). I just checked my "high growth" super account, down by over 100K over the last 2 months. I'm just about to inherit about 85K, I will use this in my share portfolio as it is ready for new gains. I'm working in a job I love with good pay so I will keep working as long as I can till age 65-67. No pension for me. One question, If I hold all the assets and my wife only holds a small amount of super, is she eligible for the pension?

[@AboutRetirementTV]

All family assets are assessed regardless who holds them

[@dipakdesai3173]

Hello Katherine, I hope you remember me, I talked to you about filling out old age pension application bcoz I was not confident about answers to few questions & we decided that we will do it over the phone when time comes ! I filled out ( on line ) 75% of the application and remaining 25% is about uploading documents which I am not confident to do it so can I submit my required documents by Mail ? And then central link can consider it as 100% done & process ? If you are confused with my email then please let me know. Thanks a lot Kind regards Dipak Desai.