Turning 55, retiring and accessing your super will become a thing of the past from July 2015.
Anyone born on or after 1 July 1960 can forget about retiring at 55.
From 1 July 2015, Australians turning 55 will have to wait at least another year before they can access super benefits.
This is a gradual increase that will see the preservation age increase to 60. The below table sets out your preservation age.
Date of Birth |
Age |
Before 1 July 1960 |
55 |
From 1 July 1960 until 30 June 1961 |
56 |
From 1 July 1961 until 30 June 1962 |
57 |
From 1 July 1962 until 30 June 1963 |
58 |
From 1 July 1963 until 30 June 1964 |
59 |
On or after 1 July 1964 |
60 |