Accessing your super

Superannuation is designed to ensure Australians have an income and decent standard of living in retirement. As a result, strict rules apply to when and how you can access your super.

All contributions and any investment earnings made to your account since 1 July 1999 are preserved. That is, they must stay invested in super until you reach your preservation age and retire or satisfy another condition of release.

Your preservation age varies, depending on your date of birth.

You can access the preserved amount of your super in cash if you satisfy one of the following conditions of release:

• permanent retirement from the workforce on or after your preservation age;
• termination of employment after turning age 60 (without necessarily retiring permanently);
• reaching age 65 (whether you are retired or not);
• death (benefits are paid to your dependants or personal legal representative);
• permanent incapacity;
• diagnosis of a terminal medical condition;
• severe financial hardship;
• eligibility for approval on compassionate grounds by the Australian Prudential Regulatory Authority;
• termination of employment with an employer-sponsor where your preserved amount is less than $200;
• permanent departure from Australia if you are an eligible temporary resident;
• satisfying any other condition of release as specified in superannuation law. 

This is known as meeting a standard condition of release. For full details, see your Member Booklet (Product Disclosure Statement).

In order to access your super due to severe financial hardship and compassionate grounds, you are required to meet conditions set by the Federal Government.

For more information about the conditions of release of preserved benefits, please contact us.

When considering accessing your super you should be aware of any tax implications.

For more information, see Tax.

Your super account is generally paid as a lump sum. However, some benefits may be paid as a pension. You may also request that Media Super pays your benefit as a pension.

If you satisfy a condition of release and would like to access your superannuation, please complete a Benefit payment application form. For assistance with accessing your super, phone us on 1800 640 886.

Most conditions of release require you to be a certain age. If you meet the requirements, you may be able to access your super early under severe financial hardship or specified compassionate grounds.

For more information, visit Early release of super.

There are special restrictions on when and how eligible temporary residents can access their super.

For more information, see Eligible temporary residents.

If you are aged 55 years or over, you may be able to access part of your superannuation account balance through a Transition to Retirement Pension, even if you’re still working.  

For more details, see Pensions.

The timing and method you choose when accessing your super can make a significant impact on the amount you receive. It's important to make the right choice for you.

You may benefit from financial advice from Industry Funds Financial Planning (IFFP). As a member of Media Super, you are eligible for some free limited financial advice from IFFP.

To find out more, visit Extra member benefits.