Age-based Commonwealth preservation rules determine when you can access your super in the Flexible Rollover Product.

 

When you can access your super from the Flexible Rollover Product

For most people their Commonwealth Government preservation age is between 55 and 60. In order to access your preserved funds you need to meet one of the following requirements:

For more information refer to the PDS and the Accessing Your Super Fact Sheet.

Important note:

Commonwealth Government preservation rules are different from preservation rules in Super SA schemes. You need to be aware of this if you are rolling money out of a Super SA scheme and into the Super SA Flexible Rollover Product.

 

 

Withdrawals from the Flexible Rollover Product

You can withdraw some or all of your funds subject to Commonwealth Government preservation rules and tax if under age 60. The minimum amount you can withdraw is $1,000.

There is no limit on the number of withdrawals you can make. The cost of each partial withdrawal is $20 with the cost of the first waived each financial year.

How:

  • Download the Super SA Flexible Rollover Product Withdrawal form
  • Return the completed form, along with any proof of identity documentation, to Super SA.
  • Withdrawals take approximately five business days to process

 

Tax on withdrawals

  • Once you reach age 60, all your payments will be tax free.
  • If you are under age 60 payments will be taxed concessionally.

Investors under age 60 may be entitled to a tax free amount and a rebate. For more information refer to the PDS and the Tax Fact Sheet.