Frequently Asked Questions

From age 55, you may be eligible to make a super contribution of up to $300,000 using the proceeds from the sale of your home. 

 

Before you make a withdrawal, it’s a good idea to chat to a financial adviser. You'll get a better understanding of how it could affect how much tax you pay – and any government benefits you may receive.

The amount of super you need to support your retirement will depend on what kind of lifestyle you’re hoping to enjoy, and how much extra income you’ll be receiving. 

Naturally, you want to be as comfortable as possible in your retirement years. As you move into this new life phase, it’s worth knowing about different types of available government support.
 

While you’re still in the workforce, it’s a good idea to start thinking about when you want to retire. As a starting point, ask yourself the following seven questions.

 

There’s an easy way to view your Centrelink schedule. Simply log in to your online member portal.

When you apply for the Age Pension, your assets and income will be assessed by Centrelink. Your Colonial First State allocated pension will generally be included.

 

You can set up a Colonial First State allocated pension, which is a type of account-based pension. An account-based pension enables you to withdraw a regular income stream from the money you’ve accumulated in your super.

Looking for ways you can earn income in your retirement years? For many Australians, this means investing in real estate, but there are also other approaches you might consider.

Working part-time once you reach Age Pension age can offer many benefits. However, any part-time earnings may also reduce the amount of Age Pension you receive. 
 

You'll need to be from 65 to 67 years of age, depending on your birthdate. This is because the government is raising the age when you can qualify.

The Age Pension is a regular fortnightly payment that you may receive from the government. If you’re eligible, it helps you meet your retirement income needs.