Retirement age for super

Retirement age for super

While there’s no official retirement age in Australia, there are rules around when you can start using your super. Understanding how super fits into your future plans can help you make informed decisions about when and how to retire.

When to retire? It depends

It’s a personal decision, shaped by your lifestyle, work, health, finances, and future goals.

For many, retirement age means the point when they can start receiving the Age Pension. For others, it’s when they can stop working and access their super freely. Both are valid and come with different rules and timing.

Accessing your super

Your super is designed to support you in retirement, but you don’t need to wait until you stop working to access it. Here are the most common ways people become eligible (known as ‘conditions of release’):

  • You turn 65 – you can access your super whether you're still working or not.
  • You reach age 60 and retire – once you stop working, your super becomes available.
  • You leave the public sector after the age of 60.
  • You reach age 60 and start a Transition to Retirement Income Stream– this lets you ease into retirement with flexible options to draw income payments.
  • You qualify for early access– in special circumstances like severe financial hardship, compassionate grounds, or permanent disability.

In some cases, if you’ve stopped working in the public sector after age 55 (or 50 for South Australian police offers), you might be able to access your super earlier.1

Super is becoming a more important part of retirement planning. In 2023, around 25% of retirees reported superannuation as a significant source of income, up from 18% a decade ago.2

Qualifying for the Age Pension

To qualify for the Age Pension, you need to be 67 years or older.  The Age Pension is an Australian Government pension paid by Centrelink and has its own eligibility rules.

To be eligible to receive the Age Pension, you’ll also need to meet:

  • Income and asset tests
  • Australian residency requirements

To learn more about the Age Pension visit the Services Australia website.

How do Australians actually retire?

Retirement looks different for everyone, but the numbers tell an interesting story. According to the latest ABS data3:

Key fact.svg
  • The average age of retirement (across all retirees) is 56.9 years.
    This reflects retirement patterns over many decades, when retiring earlier was more common. Today, people tend to retire later in life.
  • In 2022, 130,000 people retired, with an average retirement age of 64.8 years.
    This shows a shift toward later retirement, influenced by longer life expectancy, financial needs, and changes to pension eligibility.
  • The average intended retirement age is 65.4 years.
    This reflects how Australians today are planning to retire later, often to build more super, say active, or align with Age Pension eligibility.

So, what’s your retirement age?

Whether you’re planning to retire early, transition gradually, or keep working for as long as you can, understanding your options is key.

If you're unsure, it’s worth chatting with a financial planner, speaking with your employer about flexible work or transition plans, or exploring your options with Super SA.

1 Eligibility is subject to leaving SA public sector employment. If you access your super earlier than 60, you may need to pay additional tax and this may be detrimental to your retirement savings.
2 Source: www.globalbankingandfinance.com/comprehensive-report-on-superannuation-and-retirement-savings-trends-in-australia
3 https://www.abs.gov.au/statistics/labour/employment-and-unemployment/retirement-and-retirement-intentions-australia/latest-release
The superannuation schemes administered by Super SA are exempt public sector superannuation schemes and are not regulated by the Australian Securities and Investments Commission (ASIC) or the Australian Prudential Regulation Authority (APRA). Super SA is not required to hold an Australian Financial Services Licence to provide general advice about a Super SA product. The information on this website is of a general nature only and has been prepared without taking into account your objectives, financial situation, or needs. Super SA recommends that before making any decisions about its products you consider the appropriateness of this information in the context of your own objectives, financial situation, and needs, read the relevant Product Disclosure Statement (PDS), and seek financial advice from a licensed financial adviser in relation to your financial position and requirements.