To ensure your super savings are used for retirement and other permitted purposes, special rules apply to limit access to your super. These are called preservation rules.
Your super benefit will consist of one or more of the following preservation components:
- preserved amount
- restricted non-preserved amount
- unrestricted non-preserved amount.
Preserved amounts
Preserved amounts can be paid to you if you meet one of the conditions of release which include:
- permanent retirement from the workforce on reaching your preservation age (this does not apply to temporary residents). Preservation age is determined according to your date of birth as shown in the following table:
| Date of birth | Preservation age |
| Before 1 July 1960 | 55 |
|---|---|
| 1 July 1960 – 30 June 1961 | 56 |
| 1 July 1961 – 30 June 1962 | 57 |
| 1 July 1962 – 30 June 1963 | 58 |
| 1 July 1963 – 30 June 1964 | 59 |
| After 30 June 1964 | 60 |
- termination of employment between the ages 60 to 64 (this does not require you to permanently retire) (this does not apply to temporary residents)
- permanent incapacity, where we are reasonably satisfied that you're unlikely, because of ill-health, to engage in gainful employment for which you are reasonably qualified by education, training or experience
- reaching age 65 (this does not apply to temporary residents)
- termination of employment and your account balance falls below $200 (this does not apply to temporary residents)
- permanent departure from Australia, if you're a temporary resident and your visa has expired (or been cancelled)
- severe financial hardship, if you receive certain Commonwealth income support payments for a continuous period of at least 26 weeks if under their preservation age and if they are unable to meet reasonable and immediate family living expenses (this does not apply to temporary residents)
- compassionate grounds (as approved by APRA)
- you die.
Subject to some exceptions preserved amounts can also be rolled-over into another complying super fund, retirement savings account, deferred annuity or approved deposit fund at any time.
Restricted non-preserved amounts
Restricted non-preserved benefits are benefits which, although not preserved, cannot be accessed until you meet a condition of release including (for these purposes), terminating employment from your current employer.
Restricted non-preserved amounts must remain with Health Super until:
- you meet one of the conditions of release for preserved amounts
- you're no longer employed with the registered employer that made the contributions into your account (regardless of your age).
Unrestricted non-preserved amounts
Unrestricted non-preserved benefits may be accessed at any time. For example, where you have previously satisfied a condition of release and decided not to access the money in your super fund or the monies were contributed prior to 1 July 1999 when stricter preservation rules were introduced.
