Wednesday, February 20th 2019

Question

How to access superannuation?

Interesting Question?   (6)   (4)



Answers (1)

10th Nov 2009 by Tobias John Sterling

If you've reached a certain age, called the age of preservation (55-60, depending on the year of your birth), and you've retired from work (or if you haven't yet retired but you're 65+), then accessing your superannuation is straight-forward. All you need to do is contact your superannuation fund(s), complete a form, and you can withdraw the money as a lump sum. If you've reached the age of preservation but you're still employed, then you can access your superannuation, but only as an income stream, not as a lump sum. This could be done for example to supplement part-time earnings or to replace earnings that are salary sacrificed back into super. The only way of accessing lump sum super without satisfying the normal requirements is in the case of things extreme financial hardship, having to meet medical costs, or contracting a terminal illness. For further details, consult the Australian Taxation Office website at http://www.ato.gov.au/super/.

Like This Answer?   (1)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



22nd Oct 2009 In Retirement 1 Answers | 526 Views
Subjects: superannuation,

Answer This Question / Give Your Opinion
How to access superannuation?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
Which are the major banks in Denmark?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
Which are the major banks in Denmark?
Unanswered Questions in Retirement
How to choose a super fund?
What is superannuation?
Which are the biggest super funds?
What are industry super funds?
What are diy super funds?

Answered Questions in Retirement
How much does a will cost in Australia?
How much superannuation will i need?
How to choose a superannuation fund?
How to work out superannuation?
How to access superannuation?
Ask A Question
Get opinions on what you want to know:
Specific to any country?