Preservation age – When can I access my super?

1 July 2015 represents more than just the start of a new financial year!

As most financial advisers would know a client’s preservation age depends on their date of birth as per the following table (SIS reg 6.01(2)).

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
After 30 June 1964 60

From 1 July this year, we could see more and more clients being defined under the ‘second line’ from this table, with their subsequent preservation age increasing to 56 and so on.

What are the opportunities and challenges posed by the increasing preservation age? Talk to one of our advisers about how your preservation age may present tax effective strategies in the lead up to retirement, and most importantly how to plan for your retirement years.

At Wakefield Partners our goal is to provide high quality advice to clients in the form of an individually tailored solution that fully addresses each client’s particular situation and needs.

This website contains general advice which does not consider your particular circumstances. You should seek advice from Wakefield Partners who can consider if the general advice is right for you.