Two generations of family

Accessing your benefit

Whether you're retiring from work or accessing your benefit for other reasons, we cover all the information you need to access your benefit.

How you withdraw your super will depend on your age and employment status. Compare the different payment conditions or tax implications to know the right option for your situation.

Fund rules differ

Select your fund to view the details

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  • CSS
  • DFRDB
  • MilitarySuper
  • PSS
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Options for claiming your CSS benefit

As a contributing member:

  • Age 55

    tick Lifetime pension

    tick Lump sum withdrawal
    Available, restricted to your SIS upper limit and subject to cashing restrictions.

    tick Preserve benefit
    Postpone option if not retiring.

  • Age 60

    tick Lifetime pension

    tick Lump sum withdrawal
    Available, restricted to your SIS upper limit and subject to cashing restrictions.

    tick Preserve benefit
    Postpone option if not retiring.

  • Age 60–64

    tick Lifetime pension

    tick Lump sum withdrawal

    tick Preserve benefit
    Postpone option if not retiring.

  • Age 65+

    tick Lifetime pension

    tick Lump sum withdrawal

    cross Preserve benefit

Options for claiming your CSS benefit

As a preserved member:

A preserved member has ceased eligible employment and left their super balance preserved in the fund for payment at a later date.

  • Age 55

    tick Lifetime pension

    tick Lump sum withdrawal
    Available, restricted to your SIS upper limit. 

  • Age 60

    tick Lifetime pension

    tick Lump sum withdrawal
    Available, restricted to your SIS upper limit and subject to cashing restrictions. 

  • Age 60–64

    tick Lifetime pension

    tick Lump sum withdrawal 

  • Age 65+

    tick Lifetime pension

    tick Lump sum withdrawal 

Preservation ages

Date of birth Preservation age
Before 1 July 1960 55 years
1 July 1960 to 30 June 1961 56 years
1 July 1961 to 30 June 1962 57 years
1 July 1962 to 30 June 1963 58 years
1 July 1963 to 30 June 1964 59 years
After 30 June 1964 60 years

Your retirement milestones with PSS

  • Pension claim age (55)

    If you’re retired from the workforce, you can choose to claim your benefit as a pension, a lump sum, or combination of both. Any lump sum amounts will generally need to be paid to another super fund until you meet a condition of release.

  • Preservation age

    Once you have met your preservation age and retired, you can claim your whole benefit. Depending on your circumstances, you may take this as a pension, a lump sum, or roll this to another super fund.

     

    If you’d like to invest your lump sum into an account-based pension, you’re now eligible to join CSCri.

  • Age 60

    Once you are 60, you can claim your benefit if you stop working or change your employer. There are also changes to the way your benefit is taxed from age 60, no matter when you claim.

  • 64th Birthday

    Time to think seriously about your benefit options. If you claim before age 65 and three months, you may be able to take your preserved benefit as a pension, a lump sum, or a combination of both.

  • 65th Birthday

    Your preserved super benefit is ready for you to claim. You have three months to make a decision about your benefit before the option to take a pension is no longer available to you.

  • 65th Birthday + 3 months

    Your benefit can now only be taken as a lump sum, and is no longer accruing interest. If you haven’t claimed your benefit, it may be paid to the ATO as an unclaimed benefit.

Financial planning

You may also want to talk with a Financial Planner to learn more about the options available to you.

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Understand the benefits available to you when you leave work.