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Question

After I turn 65 will I be able to leave my benefits in First State Super whether or not I am making further contributions?

Answer

The forced payment of superannuation benefits once a person reaches a particular age was removed by the Federal Government effective from 10 May 2006. Previously for amounts to remain in superannuation funds past the age of 65 a work test had to be met – 240 hours in the previous financial year and once over age 75 all benefits had to be paid out. Now, benefits will be able to remain in funds like First State Super until the member’s death.

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