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.
The information on this website contains general information and does not take into account your personal objectives, financial situation or needs. It is important, before deciding whether to become a member of First State Super (or, if you are already a member, to continue your membership) that you consider the First State Super Your Member Guide Product Disclosure Statement having regard to you own situation.
