To ensure that your super savings are used for retirement and other permitted purposes, special rules apply that limit access to your super.
These are called preservation rules. Depending on your preservation age, you can only access preserved benefits in limited circumstances.
The circumstances in which access to your preserved benefits may be available include if you:
- cease employment on or after age 60
- reach age 65 whether you are still working or not
- have become permanently incapacitated
- can clearly demonstrate severe financial hardship or (if approved by the Department of Human Services) compassionate grounds
- suffer from a terminal medical condition
- die.
Temporary residents are subject to stricter rules which mean you can access your preserved benefits in more limited circumstances including if you permanently depart Australia when your temporary visa has expired (or been cancelled), die, become permanently incapacitated or suffer a terminal medical condition.