Your preservation age is the earliest age you can generally access your super once you retire, and for anyone born on or after 1 July 1964 it is 60. If you were born before that date, your preservation age is between 55 and 59, and you have already reached it.
Reaching preservation age does not unlock your super on its own. You also need to meet a condition of release, such as retiring, leaving a job at 60 or over, turning 65 or starting a transition to retirement income stream.
This guide covers the preservation age table, how you can access super once you get there, how withdrawals are taxed in 2026-27, and a worked example comparing the two most common options.
Key takeaways
- Preservation age is 60 for anyone born on or after 1 July 1964, and 55 to 59 for people born earlier.
- You still need a condition of release, such as retirement, leaving a job at 60 or over, or turning 65.
- A transition to retirement income stream lets you draw up to 10% of your balance each year while you keep working.
- Super paid from a taxed fund is generally tax-free once you are 60 or older.
- Preservation age is not the same as Age Pension age, which is 67.
What is my preservation age?
Your preservation age depends only on your date of birth. The ATO preservation age table is below.
| Date of birth | Preservation age |
|---|---|
| Before 1 July 1960 | 55 |
| 1 July 1960 to 30 June 1961 | 56 |
| 1 July 1961 to 30 June 1962 | 57 |
| 1 July 1962 to 30 June 1963 | 58 |
| 1 July 1963 to 30 June 1964 | 59 |
| On or after 1 July 1964 | 60 |
Anyone born before 1 July 1964 is now at least 62, so they have already passed their preservation age. For everyone younger, the number to remember is 60.
Is preservation age the same as Age Pension age?
No. Preservation age is about your own super. Age Pension age is about the government pension, and it is 67 according to Services Australia. Many people retire on super between 60 and 67, then check whether they qualify for a part pension once they reach 67.
If you want to know whether your balance will carry you through that gap, our guide on how much super you need to retire walks through the numbers.
How can I access my super once I reach preservation age?
Your super stays “preserved” until you meet a condition of release. Once you have reached preservation age, the ATO conditions of release that matter most are:
- Retirement before 60: you have reached preservation age, stopped gainful employment and do not intend to work again.
- Leaving a job at 60 or over: you can access your preserved benefits when you leave a job, even if you keep working in another job.
- Turning 65: you can cash your super at any time, even if you are still working.
- Transition to retirement: you can start an income stream from preservation age while you keep working, but you cannot take lump sums from it.
Once a retirement condition is met, there are no cashing restrictions. You can take a lump sum, start an account-based pension, or use a mix of both.
Watch out
Your fund has to be satisfied that you meet the condition before it pays you. Some fund rules are stricter than the law, so check with your fund before you resign or plan a big withdrawal.
How is super taxed when I withdraw it?
Tax depends on your age when the payment is made and whether your fund is a taxed or untaxed source. For the taxable component (taxed element) of a lump sum from a taxed fund, the ATO effective tax rates, including the Medicare levy, are below. The low rate cap is indexed, and it stayed at $260,000 for 2026-27.
| Age when paid | Effective tax rate on taxable component (taxed element) |
|---|---|
| Under preservation age | 22% or your marginal rate, whichever is lower |
| Preservation age to under 60 | Nil up to the low rate cap ($260,000 in 2026-27), then 17% or your marginal rate, whichever is lower |
| 60 or over | Nil, tax-free |
The tax-free component of your super, such as personal contributions you did not claim a deduction for, is never taxed. Untaxed funds, mainly some public sector schemes, have different rates, so check your benefit statement.
Because preservation age is now 60 for everyone born from 1 July 1964, the middle row no longer applies to anyone taking a normal retirement benefit. In practice, if you can access your super through retirement, it will usually be tax-free. You can see how super payments fit with the rest of your income using our tax refund calculator.
What is a transition to retirement income stream?
A transition to retirement (TTR) income stream lets you draw on your super from preservation age while you keep working. The rules are set out in the ATO guidance on TTR income streams:
- It must be an account-based income stream.
- You can draw a minimum of 4% (under 65) and a maximum of 10% of the account balance at the start of each financial year.
- You cannot convert it to a lump sum until you meet a condition of release with no cashing restrictions.
- Earnings on the assets supporting it are taxed at 15%, the same as an accumulation account.
- It moves into the retirement phase, where earnings are exempt, when you turn 65, retire, or meet another nil-restriction condition such as permanent incapacity or a terminal medical condition.
Tip
TTR is often paired with salary sacrifice, so you top your super back up while drawing a pension. Keep an eye on the super contribution caps if you try this. Our guide to transition to retirement pensions works through the 2026-27 numbers with a full salary sacrifice example.
Worked example: TTR or leaving a job at 60?
The preservation age rules have not changed recently, so this example compares the two options most people weigh up once they turn 60.
The facts
- Maria was born on 15 March 1966, so her preservation age is 60. She turned 60 on 15 March 2026.
- She has $480,000 in a taxed industry fund on 1 July 2026.
- To keep the maths simple, assume her investments earn 7% for the 2026-27 year.
Option 1: Keep working and start a TTR income stream
- Maximum yearly payment: $480,000 x 10% = $48,000.
- Minimum yearly payment: $480,000 x 4% = $19,200.
- Tax on her payments: nil, because she is 60 and paid from a taxed fund.
- Fund earnings: $480,000 x 7% = $33,600. Tax inside the fund: $33,600 x 15% = $5,040.
- She cannot take a lump sum from the TTR stream while she keeps working.
Option 2: Leave her job and start an account-based pension
- Because she is 60 or over, leaving her job is a condition of release, so her preserved super is unlocked.
- She can take a lump sum, an account-based pension, or both. Payments are tax-free.
- Her $480,000 is well under the 2026-27 transfer balance cap of $2.1 million, so it can all move into the retirement phase.
- Fund earnings: $480,000 x 7% = $33,600. Tax inside the fund: $0, because retirement phase earnings are exempt.
- Minimum yearly payment under 65: $480,000 x 4% = $19,200. There is no 10% maximum.
The difference: option 2 saves Maria $5,040 in fund tax for the year ($5,040 – $0) and gives her full access to her balance. Option 1 keeps her salary coming in. The right choice depends on whether she wants to keep working, not just on tax.
Can I access super before my preservation age?
Only in limited cases. The ATO lists a small number of early access grounds:
- Compassionate, medical, financial hardship and incapacity grounds.
- The First Home Super Saver scheme, for eligible voluntary contributions.
- Temporary residents leaving Australia, through a Departing Australia Superannuation Payment.
- A balance under $200 after your employment ends, or a lost account under $200.
Outside these grounds, your super stays locked until preservation age and a condition of release. If you are still building your balance, see our guides on how to contribute to super and choosing a super fund.
Do I need to lodge a tax return after I retire?
If you are 60 or over and your only income is super from a taxed fund, you generally do not need to lodge. You will need to lodge if you have other income, such as rent, interest or part-time wages. Our senior tax offset guide explains how older Australians can reduce tax on that other income, and our individual tax return service can handle the lodgement for you.
Frequently asked questions
What is the preservation age for someone born in 1965?
60. Anyone born on or after 1 July 1964 has a preservation age of 60, so someone born in 1965 reached it on their 60th birthday in 2025.
Can I access my super at 60 if I am still working?
Yes, if you leave a job at 60 or over, even if you keep working in another job. You can also start a transition to retirement income stream while you keep working. Once you turn 65 you can access your super at any time.
Is super tax-free after preservation age?
Payments from a taxed super fund are tax-free once you are 60 or older. Because preservation age is 60 for anyone born from 1 July 1964, most people pay no tax on super they access through retirement. Untaxed public sector funds are treated differently.
Is preservation age the same as Age Pension age?
No. Preservation age is when you can access your own super, generally 60. Age Pension age is 67 and relates to the government pension paid by Services Australia.
Can I take a lump sum from a transition to retirement income stream?
Not while you are still working. A TTR income stream is non-commutable, so you cannot cash it out as a lump sum until you meet a condition of release with no cashing restrictions, such as retiring or turning 65.
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Talk to a registered tax agent
Before you resign, start a TTR income stream or take a lump sum, speak with a registered tax agent at Nanak Accountants & Associates on 1300 626 258. Our superannuation withdrawal support team can check your conditions of release and tax position, or you can contact our team for a review.
This article is general information only and is not personal financial or tax advice. Information checked against ATO and Services Australia sources on 12 October 2026.
