When it comes to super, a common misconception is that retirement is the end of the line. You might be one of the many people who believe that leaving work means it’s time to cash out your balance and call it a day, perhaps splashing out on a caravan to do a lap of honour around Australia.
In truth, retirement is when the super system really comes into its own. It is a new beginning, rather than the end of the story.
When we say retirement, we really mean meeting conditions that will allow you to access the super you have accumulated without any restrictions. Most often, this means being retired from work and aged 60–64, leaving a job after turning 60 (even if you then start work again), or turning 65 (even if you’re still working).
So, what puts super in prime position during your retirement?
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Understand the key decisions in retirement, from drawing income from your super to Age Pension entitlements and managing your retirement income.
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