10 Superannuation
Withdrawing from Super
While super is an extremely important component of retirement planning, it must be remembered that it is generally locked away or 'preserved' until you satisfy a condition of release. The various conditions are detailed below but one of the more common conditions is reaching your preservation age and permanently retiring from the workforce. This was set at age 55 for individuals born prior to 1 July 1960 but is now increasing to age 60. Age 60 applies to individuals born after 30 June 1964. This is shown in the table:
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