The ‘preservation age’. What it means and why it matters
The ‘preservation age’ is the minimum age that your super must be 'preserved' until. It’s currently between 55 and 60, depending on when you were born. Once you’ve reached the ‘preservation age’, you may then have access to superannuation funds, if certain conditions are met., opens in new window
| 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 |
This opens up several options for you to consider but these options also bring risks, so it’s important to speak to a professional, impartial retirement adviser before making any decisions.
Transitioning to retirement
If you’d like to work fewer hours without losing income, you’re now able to start a pension to replace your lost income. Called a ‘transition to retirement’ (TTR), it’s a way to free up your time to pursue other interests and spend more time with the grandchildren.
Retirement planning strategies
You also need to weigh up how withdrawing money early will affect your final retirement lifestyle. It means you’ll have less in your final superannuation account when you decide to fully retire.
Helpful resources
- The government’s MoneySmart website, opens in new window has a handy Super and Pension age calculator
- Head to our superannuation section for more tips
- Talk to a financial adviser about your personal circumstances
Have confidence in your future with help from a financial adviser.
Other life moments
Consulting an expert about your retirement
How consulting a financial expert could make things easier.
Estate planning: why it's important to have a will
Exploring the importance of having a will and how it involves.
Budgeting for your retirement
Early planning can help ensure you get the retirement you want.
Related products and services
NAB Retirement Account
An everyday account for retirees. Earn interest and access your money with no monthly account fees.
Financial advice
Get in touch with us to talk about financial advice options, including personal insurances, investments, super or retiring planning.
Super and investments
Insignia Financial is NAB's preferred provider of superannuation and retirement solutions.
Get in touch
Customer Support Tool
Solve problems quickly online with our easy-to-follow guides. Simply select a topic and we’ll direct you to the information you need.
Contact us
Explore our personal banking contact information and get support with a wide range of products, services and topics.
Visit a NAB branch
Visit us in person at your nearest NAB branch or business banking centre.
Important information
Apologies but the Important Information section you are trying to view is not displaying properly at the moment. Please refresh the page or try again later.
The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.
Target Market Determinations for these products are available at nab.com.au/TMD.