Accessing super

Knowing how and when you can access your super is essential when planning for the future.

When can I access my super?

Super is like a piggy bank. Any contributions made by you (or on your behalf) since 1 July 1999 form part of your 'preserved benefit'.

Basically, this means that you aren't able to break into your piggy bank (your preserved benefit) unless you meet one of the following rules:

• you reach your preservation age and retire from the workforce,
• you utilise the transition to retirement rules (if you are eligible), while continuing to work,
• you reach age 65, or
• you satisfy other relevant criteria for early release.

What is my preservation age?

Your preservation age is the age from which you can take your preserved benefit. Depending on your birth date this could range from age 55 to 60.

I don't have long between now and then! What should I do?

The Retirement section on this site can help you to figure out how much you'll need in retirement, what your options are, as well as discussing the four retirement life stages.

Be prepared: browse the Retirement section now

I have years (or decades) before my retirement - I don't need to worry, do I?

You should take some action to be engaged in your super before it is too late. Small changes now can make a difference in the future.

If you'd like to know how you can make the most of the luxury of time before retirement, read through our Grow your super section. You can always contact us to discuss your options, or book to attend a webinar. If it's advice you need, we can also assist*.

Find out about your options to Grow your super

* ESSSuper Financial Advisers are authorised representatives of Link Advice Pty Ltd (Link Advice). Link Advice holds a current Australian Financial Services Licence No. 258145 and is responsible for the financial services provided to you.  ESSSuper has an arrangement with Link Advice Pty Ltd to provide financial advice to ESSSuper members. ESSSuper pays Link Advice a fee for this service. Neither the Board, nor the Victorian Government, guarantee or endorse any recommendations made by Link Advice, or are responsible for the advice and actions of Link Advice.

Do I have to access my super as soon as I'm eligible?

Not with ESSSuper. We have several options you may wish to consider before taking a lump sum benefit (if eligible).

You can find out more about our award winning Income Streams here

Contact us to book an appointment with our Member Education Consultants or ESSSuper Financial Advisers*.

* ESSSuper Financial Advisers are authorised representatives of Link Advice Pty Ltd (Link Advice). Link Advice holds a current Australian Financial Services Licence No. 258145 and is responsible for the financial services provided to you.  ESSSuper has an arrangement with Link Advice Pty Ltd to provide financial advice to ESSSuper members. ESSSuper pays Link Advice a fee for this service. Neither the Board, nor the Victorian Government, guarantee or endorse any recommendations made by Link Advice, or are responsible for the advice and actions of Link Advice.

Are there any ways I can access my super early?

The purpose of super is to maintain some funds for your retirement. However, sometimes there are circumstances in which you may be allowed to access your benefit early.

These include:

• your death or if you become permanently incapacitated,
• you are experiencing severe financial hardship,
• you qualify for an 'early release' as a result of severe financial hardship or specified compassionate grounds,
• your account balance is less than $200 and you change employers, or
• you are eligible to 'exempt out' while still working.

Applications for early release of your super on compassionate grounds or for reasons of financial hardship will be determined in accordance with the strict provisions imposed by the Commonwealth Government.

Contact us to discuss your eligibility options.