| Date of birth | Preservation age |
|---|---|
| Before 1 July 1960 |
55 |
| 1 July 1960 – 30 June 1961 |
56 |
| 1 July 1961 – 30 June 1962 |
57 |
| 1 July 1962 – 30 June 1963 |
58 |
| 1 July 1963 – 30 June 1964 |
59 |
| From 1 July 1964 |
60 |
You can access your Superannuation Balance when you permanently retire from the workforce and reach the preservation age, usually age 60, as can be seen in the above table. When you reach the age of 65,there are no cashing restrictions. Superannuation balances are available at any time once a Member retires. A Member of the SMSF can take out the total balance, tax-free, or just part of the balance. There is, however, a minimum that should be taken each year. This starts at 4% of the Superannuation balance that should be withdrawn each year.
