Retirement

On retiring there are a number of options for your super, you can:

  • Leave your account balance in First State Super, where fees and investment earnings will continue to affect your account. 
  • Take the balance of your account out of the superannuation system as a lump sum cash* payment.
  • Transfer all or part of the balance of your account to a pension fund and take the remainder as a lump sum cash* payment.
  • Leave your benefit in First State Super but transfer your account into a Retirement Income Stream for a regular income stream in retirement.

* Cash payments will be made by cheque and posted to your current mailing address or as a deposit to your nominated bank account.

Please read the  following fact sheets for more information on preparing for retirement:

Click here to download the Income Stream membership application form

When can I receive my superannuation benefit?

Your superannuation benefit may generally be accessed when you:

  • Reach 65 years of age, whether you are still working or not.
  • Cease employment on or after reaching age 60.
  • Permanently retire on or after reaching your preservation age.

Your preservation age depends on your date of birth:  

Date of birth

Preservation age

Before 1 July 1960 
Between 1 July 1960 and 30 June 1961
Between 1 July 1961 and 30 June 1962
Between 1 July 1962 and 30 June 1963
Between 1 July 1963 and 30 June 1964
After 30 June 1964

55
56
57
58
59
60


There are circumstances other than retirement when you can access your super. Read the fact sheet Access to your super for more information about these circumstances.

Retirement and temporary residents

From 1 April 2009 superannuation regulations further restricted the payment of superannuation benefits to temporary residents. Generally, temporary residents will not have access to superannuation benefits due to retirement and will not be eligible to open an income stream. See Conditions of release –  temporary residents.