• SMI Financial Solutions

Can I access my Super without retiring?

For many of us, the ability to retire at our preservation age and comfortably live off our superannuation is a distant dream. What was naively envisioned in youth as a goal that once reached consisted of bliss and comfort, is now a milestone that can only be truly celebrated by a lucky few. With this in mind, life can be easier if we could work while also receiving our hard-earned super, which can in fact be possible once you turn 60.

Retirement at or after the age of 60 requires that you terminate an arrangement under which you are gainfully employed. This means that if you have multiple employers, and end employment from one and remain being gainfully employed by the other, depending on your superannuation terms, you may still be able to access your super while working.

If you only have one job, you can terminate that employment to ‘retire’, but from there can begin a new arrangement of employment, which could be casual, part-time or full-time. Once you have access to your super, you do not actually have to actively draw from it and can rather leave it to grow.

Despite the lost dream of a life of leisure at 60, there are a number of benefits of continuing to work, such as:

  • Keeping your mind active

  • Providing a stable routine

  • Extra income to supplement your super

  • Opportunity to socialise and meet new people

  • Opportunity to pass on skills to a younger generation

If you’re not across the terms of your superannuation, we can make it easier to understand and give you the transparency you need to make decisions today so it will reward you in the future. Beyond this, we can assist you in finding your lost super, selecting the right super fund for you and managing the process for you.

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SMI Financial Solutions Pty Ltd ABN 92 154 155 307 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd, ABN 47 097 797 049, AFSL 236523.  Christopher Smith (478941) and SMI Financial Solutions Pty Ltd (418006) are authorised for Credit Services with outsource financial ACL384324. Infocus is not liable for any credit services provided by either entity. Information published on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. Before making an investment decision based on this advice you should consider, with or without the assistance of a qualified adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances.

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