Question
How to claim superannuation?
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17th Feb 2011 by shaun - Australia Specific
i am on a disable pension and i want to know how i can claim some of my super
i am on a disable pension and i want to know how i can claim some of my super
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17th Feb 2011 by jennifer - Australia Specific
i want to pay off my home when i turn 60 in september 2011/ Can i access super to do this but leave the balance intact with the fund!
i want to pay off my home when i turn 60 in september 2011/ Can i access super to do this but leave the balance intact with the fund!
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17th Feb 2011 by jennifer - Australia Specific
i want to pay off my home when i turn 60 in september 2011/ Can i access super to do this but leave the balance intact with the fund!
i want to pay off my home when i turn 60 in september 2011/ Can i access super to do this but leave the balance intact with the fund!
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14th Nov 2009 by Tobias John Sterling
Except in exceptional circumstances, superannuation benefits cannot be claimed/accessed until you reach 'preservation age'. Preservation age is 55 if you were born before 01 July 1960, 56 if you were born between 01 July 1960 and 30 June 1961, and so on up to age 60 for those born on or after 01 July 1964 (the idea here is that in time, preservation age will be 60 for everyone). Once you reach preservation age AND permanently retire, you can access your super. If you are still working, then you have to wait until age 65 to get your super as a lump sum, though you can access it as an income stream to supplement your wages or salary before then (this is known as 'transition to retirement', as the idea is that you can reduce your working hours but make up the difference in pay with super). Once you meet the conditions to claim your super as a lump sum, you just need to contact your super fund and tell them you want to withdraw your money. They'll send you an application form which you'll have to complete and return. Further information is available on the Australian Taxation Office website at http://www.ato.gov.au/super/content.asp?doc=/Content/48211.htm.
Except in exceptional circumstances, superannuation benefits cannot be claimed/accessed until you reach 'preservation age'. Preservation age is 55 if you were born before 01 July 1960, 56 if you were born between 01 July 1960 and 30 June 1961, and so on up to age 60 for those born on or after 01 July 1964 (the idea here is that in time, preservation age will be 60 for everyone). Once you reach preservation age AND permanently retire, you can access your super. If you are still working, then you have to wait until age 65 to get your super as a lump sum, though you can access it as an income stream to supplement your wages or salary before then (this is known as 'transition to retirement', as the idea is that you can reduce your working hours but make up the difference in pay with super). Once you meet the conditions to claim your super as a lump sum, you just need to contact your super fund and tell them you want to withdraw your money. They'll send you an application form which you'll have to complete and return. Further information is available on the Australian Taxation Office website at http://www.ato.gov.au/super/content.asp?doc=/Content/48211.htm.
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22nd Oct 2009 In Retirement
4 Answers | 959 Views
Subjects: superannuation,