Can I Access My Super at 60 and Still Work?

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65 Comments

  1. Glense Ullrich

    We need to do renovations on our house and we are both over 60 is it possible to use some of our super fund to do this rather than topping up the mortgage?

    Reply
    • Chris Strano

      To have full access to superannuation, a person over age 60 needs to have had an employment arrangement come to an end after age 60, or be permanently retired with no intention of returning to work. Alternatively, for people still working, a transition to retirement pension can be started using some or all of an accumulation balance. A transition to retirement income stream allows up to 10% of the balance to be drawn in pension payments each year. It’s best to contact your financial planner or superannuation provider to discuss your options.

      Reply
  2. Rose indich

    I need to find then access some of my super to be able to find accommodation. Through unforseen events I have had to vacate which has now left me black listed. I would like to clear this up so that I can find a place to live, now that I am settled. I intend to work as long as I can so will seek a small place to buy. Can you assist me.
    Kindest regards Rose

    Reply
  3. Glen

    I am 61 and am leaving my current job in late Jan 2018….and hoping to start another new job in Mid Feb 2018
    I want to help my daughter purchase a property which would then be an investment for us both….can I withdraw my Super in full in this short period of time?

    Reply
    • Chris Strano

      G’day Glen
      Generally, when an employment arrangement comes to an end after you have reached age 60, you will have full unrestricted access to your superannuation savings. Any subsequent contributions to superannuation (e.g. as a result of your new job) will be inaccessible until you meet another superannuation ‘condition of release’.
      Note, there is no requirement for you to withdrawal all of the funds prior to commencing your new job. Your current balance can remain in your account and be withdrawn at will at any stage now or in the future (after you cease work of course).
      This is general information only. I am not a financial planner. You should seek personal advice in relation to this. You should also contact your superannuation provider to determine the course of action to be taken to convert your funds to ‘unrestricted non-preserved’ once you leave your current job.

      Reply
    • Paul McInerney

      Hi Chris
      The gfc devastated us and my wife was then made redundant in 2014 at age 55 and we used her payout to reduce debt and then needed (twice) over ensuing years to withdraw super from her account to help get back into our own property. We also have a family debt to repay. She will turn 61 in December and has approx 100k left in super. She has been working sporadically, self employed since 2015. She has had the one client since 2016 which she invoices for 20 hrs per week but there is no formal arrangement in place. She has done tax returns to 2018. She also has an incurable form of cancer which will most likely take her life one day. How would withdrawing her super effect her from a tax perspective?
      Thanks a lot
      Paul

      Reply
  4. Rob

    I withdrew my super at age 58 and left Australia to live in Ireland. I am now 62 and wish to return and work in Australia . I am a New Zealand citizen and wish to retire in Australia at age 67. Do I need special paperwork to permit me to work. I remember having to sign something to state that I was no longer going to work as I was retiring.

    Reply
    • Chris Strano

      Hi Rob, to access your superannuation at 58, you may have met a superannuation condition of release by signing to say that you were ‘retired with no intention of returning to work’. Provided your intention at that time was genuine, there should not be an issue with once again returning to work.

      Reply
  5. Susan Erhardt

    My husband has just been laid off on another casual job. He is on newstart allowance but is seriously thinking it’s time to retire .can he get a super payment and still claim centerlink .he is 62 in may

    Reply
    • Chris Strano

      Hi Susan, one form of having unlimited access to superannuation is to meet the condition of ‘an employment arrangement coming to an end after age 60’. If this is what has occurred, then unrestricted access to superannuation savings should be available – either as a lump sum or income stream (or combination of both). However, it is very important to discuss with Centrelink how payments from superannuation may impact on Newstart payments. You can find more information here https://www.humanservices.gov.au/individuals/services/centrelink/newstart-allowance

      Reply
  6. Lance

    Hi Chris,

    I am self employed ( Uber driver ) and over 60 – how does this effect conditions of release if I stop driving for Uber, and then decide to start again. My wife will still be working full time in a permanent role at a private company.

    Reply
    • Chris Strano

      Hi Lance, the ATO may not consider this as ‘an employment arrangement coming to an end’. They have said before that reducing working hours with the same employer (as opposed to resigning or retiring) is not sufficient in meeting this condition. You may have an argument if you stopped driving completely, closed down your UBER account and then re-applied with UBER sometime later to be a driver again. But just be careful, as the regulator does not look fondly on people using tactics to circumvent superannuation rules, particularly in relation to accessing superannuation. It might be an idea to seek professional advice.

      Reply
  7. vicki

    I need to have a operation not life threatening and do not have private health cover but want the op performed in a private hospital I’m 63 and would like to access a small lump sum from my super to pay for the op I’m still working full-time what are my chances

    Reply
    • Chris Strano

      Hi Vicki,
      One option may be commencing a TTR Pension, which would allow you to draw up to 10% of your account balance each year while you are still working.
      Otherwise, to have full unrestricted access, you would need to meet a retirement condition of release.

      Reply
    • Jo

      Hi Chris, I’ve been offered a voluntary redundancy from my current employment however this has occurred just 8 weeks prior to me turning 60. If I can negotiate a separation date from my current employment on or after my 60th birthday, could I then access a part lump sum from my super fund and use it to discharge my mortgage? This would leave a balance in the super account. I do not wish to retire at this time and will be actively seeking new full time employment opportunities

      Reply
      • Chris Strano

        Hi Jo,
        Having an employment arrangement come to an end after reaching age 60 fits within the definition of retirement for superannuation purposes and will provide you with unrestricted access to the super you have accumulated up until that point. Be mindful that you also need to be over age 60 for super withdrawals to be received tax free (assuming your balance does not include taxable (untaxed) components).
        By meeting the condition of ceasing an employment arrangement over age 60, you will still be permitted to obtain new full-time employment and will still have unrestricted access to your balance at the point of meeting the condition. However, any subsequent contributions (e.g. SG contributions from your new employer) will not be accessible.
        It is important to notify your super fund once you cease your current employment, so that they know you have met the condition of release. This will require you to submit a declaration to them.
        I don’t see an issue with your negotiation intentions.
        Hope this helps,
        Chris
        Related Posts
        Definition of Retirement for Superannuation Purposes
        Lump Sum Super Withdrawals After Age 60

        Reply
  8. Duncan Davies

    Hi I am 61 in December and I have been only working casually since my triple bypass 3 years ago my wife also works par time 20 hours a week can I give up work now and collect my super
    Regards Duncan Davies

    Reply
    • Chris Strano

      Hi Duncan, one definition of retirement is ‘having an employment arrangement come to an end after age 60’. Meeting this superannuation condition of release should provide you with full unrestricted access to your total superannuation balance (benefits accumulated up until the point you make this declaration to your super fund). If you do cease work, you should contact you super fund and ask for the process required. Your wife’s employment situation is irrelevant in determining whether or not you can access super.

      Reply
  9. Dan

    What an eye opener! Thanks for this info. I’m 61 and have a little over $100,000.00 in Super. I own no real estate and am renting. I have often thought about resigning my job, using my super to buy something super modest in a small town then getting a job until I reach pension age. I actually have options now. I’d never be able to live off any income stream my Super might generate while still renting. At least if I own something outright and can find work (it’s possible), I at least have the possibility of living a basic existence in a place of my own.

    Reply
  10. McKenzie

    Hello Chris, My husband will be made redundant again from his job at the end of JUne, this will be his 4th in 7 years. He has just reached 60. Can he access his super and pay off the balance of the house so we don’t have to worry. He still wants to work part time if he finds another job.

    Reply
    • Chris Strano

      Hi McKenzie, one type of superannuation condition of release is ‘retirement’. Retirement, for superannuation purposes, can be defined in a couple of different ways. Click here to read more about the definition of retirement. One such definition includes ‘having an employment arrangement come to an end after turning age 60’. Being made redundant after age 60 would generally satisfy the defintiion of retirement and provide full unrestricted access to super. However, another condition of release would need to be met to access future contributions, such as contributions made after finding another job.
      Furthermore, being over age 60, all withdrawals (excluding any taxable (untaxed) components) can be received tax free.
      You can find out your ability to access your super savings by contacting your superannuation fund and explaining the situation.

      Reply
  11. Cathy

    I turned 61 in early 2018. The business I worked payg for went into liquidation in early June 2018 and I am struggling to find a new job. If I access my super as a lump sum (just over $60k) will I pay any tax on this? I was of the belief that super was tax free after 60.

    Reply
    • Chris Strano

      Hi Cathy, yes generally all withdrawals for people over age 60 are received tax free, unless your balance includes a ‘taxable (untaxed)’ component. You should contact your superannuation provider to see if your balance includes a ‘taxable untaxed’ component.

      Reply
  12. marcus othen

    My age in feb will be 60, I have less than $50000 in super,Is it better to pension my super or put all the money in a fixed term deposit. also I wish to gift some of the money to my daughter how is that done.

    Reply
    • Chris Strano

      Hi Marcus,
      If you are still working and plan on continuing to work you are not able to have full access to your super.
      However, you are able to commence a transition to retirement (TTR) pension if you wish, allowing you to draw up to 10% of your balance each financial year. A TTR pension also requires you to draw a minimum income of 4% of your balance each year. Be careful though, because there may be tax on TTR pension income while under age 60.
      I am unable to provide personal advice and can therefore not tell you what is best for you.

      Reply
  13. lenny Introna

    i am 63 working full time, if i go say 3 days aweek ,can i withdraw from my super, and how much can i take and will it be monthly or annually

    Reply
    • Chris Strano

      Hi Lenny, as you have met your superannuation preservation age, you have the ability to commence a transition to retirement (TTR) pension, which allows you to access up to 10% of your pension account balance each financial year.
      If, as a result of reducing to 3-days per week, you satisfy the condition of ‘having an employment arrangement come to an end’, you may be able to commence an ordinary account based pension, which allows you to withdraw as much as you like from your pension each year (only limited by your account balance).
      Being over age 60, all pension income should be received tax free (assuming your balance does not include a taxable (untaxed) component.
      Your superannuation provider will set the frequency of pension income. This may be weekly, fortnightly, monthly, quarterly, half-yearly, or yearly. If you have a SMSF, you can generally take pension payments whenever you like, depending on what is stated in the trust deed.

      Reply
  14. ML

    Hi,

    My mum would like to get information about accessing her super.
    She is currently experiencing a financial difficulty. She is 60 years old, and is employed in a permanent basis. She would like to access her superannuation. She said she would like to cease her current employment arrangement, but would like to work as a casual employee with the same employer. Can she do that?

    Reply
    • Chris Strano

      A full condition of release, allowing unrestricted access to super, includes ceasing an employment arrangement after age 60. Provided that condition is genuinely met, any subsequent employment, even with the same employer, should not affect the ability to access super. Note: any new contributions made after recommencing employment will not be accessible in full until another full condition of release is met.

      Reply
  15. Tom

    I am 60 and currently on Newstart. I own my own home and I am single. I have $400,000 in super can I assess thisthrough a Transition to Retirement ? And will a TRIP of say $13,000pa affect my Newstart benefit ?

    Reply
    • Chris Strano

      Hi Tom,
      I must admit, I’m no expert on Newstart, but this should give you a guide:
      If you are under Age Pension age and you convert your super to an income stream (e.g. TRIP), it goes from being non-assessable for Centrelink (while in an accumulation account) to being assessable.
      It is assessed under both the income and assets test.
      Here is a link to the income and assets test limits for Newstart. As you can see, the asset test limit for a single homeowner is $258,500.

      Reply
    • Ken

      Do NOT do a transition to Retirement it will slash Newstart.
      Do a one off cash withdraw (can be done multiple times)

      Reply
  16. leigh

    gday chris , i just turned 60 and have 60 odd grand in a super fund. i have credit card i would like to pay out and close. can i access some of my super to pay it off and then salary sacrifice to replace what i withdraw. i work full time self employed in construction. i am having a bigger year than normal and dont want i big tax problem at years end . the idea is to get rid of card now and reduce tax obligation by paying more in to super. thoughts

    Reply
    • Chris Strano

      Hi Leigh,
      As you are still working, presumably in the same job you were in prior to turning 60, the only way you can access your super is via a transition to retirement income stream.
      This allows you to draw an income between 4% and 10% of your account balance each year. Based on $60k, an income of between $2,400 and $6,000 could be achieved in the first year.
      Being over age 60, the income is generally received tax free – you should confirm this with your super provider.
      If you are going to continue receiving contributions, you might consider leaving a small balance in your accumulation account (i.e. not using the total balance to start a TTR income stream).
      Contributions cannot be made to an income stream account.
      It is particularly important to leave a small balance in accumulation if you have insurance within the accumulation account, so as not to lose it.
      Often a tax advantage can be achieved by salary sacrificing salary into super and then withdrawing tax free income from a superannuation income stream for obvious reasons.
      It might also be worth asking your employer if your SG payments will reduce if you decide to salary sacrifice, because I believe employers are only legally required to pay SG on wages after salary sacrifice is deducted, but they are allowed to pay an increased amount.

      Reply
  17. Carol Charman

    Yours is definitely the easiest to understand website when it comes to the complexities of Super; thanks

    Reply
    • Chris Strano

      Thank you Carol, very kind of you to comment.

      Reply
  18. Kath Lawson

    Hi Chris. I am 60 years old and work for two agencies, permanent part time for one and on a casual basis for the other. The hours of work for my P/P employer are regular but very limited (my choosing). Therefore if I were to cease work with the PP employer but continue with the other can I access my Superannuation? Also would my casual employer then set up a new fund for me?

    Reply
    • Chris Strano

      Hi Kath,
      Having an employment arrangement come to an end satisfies the definition of retirement, providing unrestricted access to super. Ceasing work with one employer should achieve this.
      You could ask your employer to set up a super fund for you, or you can generally choose your own fund under the super choice rules and notify your employer of your fund name and account number.
      Another option might be to leave a small amount in your existing super account so that it remains open. This is something that should be considered particularly if you have insurance within the account. Because if you close the account, you will effectively be cancelling your insurance also.

      Note: Any contributions made to super after ceasing an employment arrangement will be preserved. Another condition of release will need to be met to access them.

      Related Posts
      Is Life Insurance Tax Deductible in Super?
      Access to Super After Age 60

      Reply
  19. Sandra Jensen

    hi Chris, I am in a family partnership and would like to access my super when I reach 60, do I have to come out of the partnership or would it be possible to redo the distribution amount. I would like to stop daily work but still do paperwork in the future for a smaller distribution.

    Thankyou Sandra

    Reply
  20. Mark Gauntlett

    Hi Chris,
    Thanks for your invaluable guidance on the tricky topic of super. I’m afraid I have yet another question on the meaning of ‘retirement’. When I turned 60 early in January, I was not employed in any capacity. For the 10 years before I turned 60 I had worked on and off as a casual for the one employer. Immediately after I turned 60 I started a contract as a part-time employee with that same employer. My sense is that my circumstances meet the relevant definition of retirement for the purpose of making a lump sum withdrawal from my super. Do you share that view? Thanks, Mark.

    Reply
    • Chris Strano

      Hi Mark, there is often debate around the interpretation of this rule. The definition of retirement includes ceasing work after reaching your preservation age with no intention of returning to full-time or part-time work OR having an employment arrangement come to an end after age 60. My interpretation is that an individual needs to have an employement arrangement come to an end AFTER reaching age 60, so I’m not sure that your situation would satisfy that definition of retirement. You should consider seeking advice from a financial planner.
      Related Posts:
      Retirement Rules and Definitions
      Establishing Wehther Gainful Employment Has Ceased

      Reply
  21. Chris

    Hi Chris. I am 61 & have a transition to retirement a/c & work part time 25hrs per week.
    I’m considering retiring & collecting all of my money as a lump sum but I still want to work casual 10hrs a week.
    All of that I understand, however, what isn’t clear is can it be the same employer if I don’t fully resign & leave the company?
    What I want to do is resign my part time position of 25hrs stepping down to casual 10hrs per week but never actually leave the company. Can I do that? Or do I have to fully resign & then have them re-employee me to be able to get my money as a lump sum? If this is the case how long do I have to wait to start working casual again?

    Reply
    • Chris Strano

      Hi Chris, an arrangement under which you were gainfully employed needs to come to an end. My interpretation of this is that you need to specifically cease gainful employment. I do not beleive reducing your employment status from part-time to casual satisfies this condition, but I could be wrong. Here is a good article that may help https://www.dbalawyers.com.au/pensions/new-apra-guidance-confirms-retirement-members-reach-60-cease-one-two-jobs/

      There is no specific timeframe of when you can commence again. You just need to meet the initial condition of ceasing an employment arrangement.
      Related Posts:
      Definition of Retirement for Superannuation Purposes

      Reply
      • Chris

        Hi Chris , Thank you for your response. I read the article & it’s still not really clear so probably best to be cautious & fully resign & then have them re-employ me as a call in casual after I’ve had a break.
        Thank you for taking the time to reply. Reading through your site you definitely explain things I’m plain English so that everyone can understand.

        Reply
        • Chris Strano

          Thanks for the feedback Chris. Yes, it is a tricky area and not one that has been tested too much in the past. Every situation is different which is why it’s difficult to give a certain answer, given there’s not much precedence.

          Reply
  22. Paul

    Hi chris
    I was made redundant start 2019 , I will be 60 end June 2019.
    I have been receiving Newstart for last 8 weeks and in time expect to find another job . I am wishing to access some my super as lump sum 15K reduce a outstanding debt. I am not sure if newstart would cease or reduce, but would lump some be possible if I paid debt directly. Once employed again in near future will then salary sacrifice to cover such withdrawal.

    Reply
    • Chris Strano

      Hi Paul, it is unlikely that you are able to access your super unless you have unrestricted non-preserved components within you fund (speak to your fund and ask if your balance includes this). You first need to meet a condition of release. Reaching age 60, in itself, is not a condition of release. You need to have ceased an employment arrangement after reaching age 60, or be retired with no intention of returning to work.
      Related Posts
      Super Rules Over 60
      Super Lump Sum Withdrawal Rules OVer 60
      Can I Use Some of My Super Over 60?

      Reply
  23. Colin Gibson

    Hi Paul,
    I retired from my full time position at age 61 last October 2018 with no intention of returning to work. Since then (after meeting the requirements for the release of my Super) I have withdrawn a lump sum to clear my mortgage and have been receiving a pension payment from the remainder. In May 2019, I returned to work with the same employer but in a totally different role on a casual basis of up to 30 hours per week. I have now had an offer to change jobs with this employer to a full time position in another entirely different role. Are there any issues with this? Would I now transfer my pension account to a TTR and continue drawing funds?

    Reply
    • Chris Strano

      Hi Colin, there is no issue with this at all. Ceasing an employment arrangement after age 60 is considered a full condition of release, providing you with unrestricted access to your super. There are no future employment limitations on this. No, there is no need to change your account based pension to a TTR pension. In fact, you probably wouldn’t want to, as investment earnings within a TTR pension are taxed at up to 15%, compared to 0% in account based pensions. One thing to keep in mind is that you do not have access to any subsequent contributions made into your super account until you meet another condition of release. For example, contributions made to your super account after Oct 2018 are unable to be accessed. You may, however, have access to those contributions if you meet another condition of release (changing jobs). But then, again, any subsequent contributions from your new job would not be accessed until you met yet another condition of release. Confusing, I know!
      Hope it helps!
      Chris
      Related Posts
      Superannuation Definition of Retirement
      Best Time To Retire For Tax Purposes
      TTR Pensions vs Account Based Pensions

      Reply
  24. Lynne Shearer

    Hi Chris
    I am 63 & still working full time and have over $470k in my Westate Super Fund.
    I bought a house 3 years ago & want to pay off my remaining mortgage of $173k before I decide to retire.
    Is it best to wait until I am 65 to access a lump sum to pay off my mortgage or alternatively set up a TTR now and opt for the maximum amount of 10% to enable me to pay a larger amount off my mortgage and in doing so also reduce my interest repayments.
    Are there any advantages tax wise in doing this now?
    Thanking you

    Reply
    • Chris Strano

      Hi Lynne,
      This is a common question leading into retirement. In short, there is no wrong answer, both are viable options, but there are other options too. To help you make a decision, consider this:
      1. What are the costs associated with setting up a TTR Pension?
      2. If you are continiung to make/receive contributions to super, you will need to have a TTR Pension AND an accumulation account, as contributions cannot be made to an accumulation account
      3. What are the expected after-tax returns from your super investments over the next 2 years vs the interest rate on the loan?
      4. Would you feel more comfortable paying off debt faster?
      5. Will you/ Are you salary sacrificing?

      You are at an age right now where you should be capitalising on all of the benefits of super. You really need to consider your main objectives and then compare a few strategies to see which one comes out on top (i.e. current situation vs TTR Strategy vs TTR to pay off debt). You might also want to think about setting yourself up now for maximum social security benefits in a few years and getting more of your savings into super.

      I know that’s a bit vague-ish, but there are countless options right now for you over the next few years.
      Chris

      Reply
  25. Michael G

    Chris, thank you fo this article I cannot tell you how useful it is. I would appreciate your feedback on my situation. I have a significant super balance and at age 61 I ceased employment with my last employer in December 2018. I have reached the preservation age for my super balance. I would like to work again but am unable to find a role and my assets mean no government support of any kind which I am ok with. What I would like to know is rather than retire can I access a lump % of my super (10%?) to be able to have a bank balance while I continue to seek work? If I cannot do this my only option would be to retire. Appreciate any feedback.

    Reply
    • Chris Strano

      G’day Michael,
      Thank you for your comments. I’m glad you have found it useful.
      In relation to opportunities available to you, you are in a very enviable position given your age, employment status and significant super balance.
      From what you say, it appears you ceased an employment arrangement after reaching the age of 60. This meets the definition of a full superannuation condition of release, meaning you have unrestricted access to your super via lump sums or an income stream, regardless of whether you decide to return to work or not. Also, being over age 60, all withdrawls are generally received tax free.
      Because you have met this condition of release, you are not limited to a TTR Pension. A TTR Pension is for people who have not met a full condition of release.
      Off the top of my head, I can think of at least 3 strategies that can reduce your current and future tax considerably. I strongly suggest obtaining personal advice from a financial planner (feel free to click here and check us out if you don’t have one), as I am certain you could capitalise on this position you are in, particulalry prior to returning to work. Withdrawing 10% of your balance to put in your bank account is unlikely to be your best option.
      Related Posts
      Definition of Retirement for Superannuation Purposes

      Reply
  26. Jeff Brown

    Hi Chris,
    we just sold our home, and we want to know can I resign from my full time job, take all of my savings funds to buy a house out of the city to own it outright and still work. I have reached my preservation age and with what we made from the sale of our house and my super, we think we can buy a nice downsized home in the country.
    I don’t want to retire early as I will still need a job to live and keep busy and with my wife’s part time earnings we should be able to live comfortably and debt free (our ultimate goal).

    Reply
    • Chris Strano

      Hi Jeff,
      Given the title of this article, I will assume you are over age 60. Ceasing an employment arrangement (e.g. resigning from your current job) meets one of the superannuation definitions of retirement, which is a full condition of release. A full condition of release gives you unrestricted access to the super savings you accumulated up until meeting that condition of release.
      Meeting this condition of release and accessing your super does not preclude you from returning to work in another role. However, any subsequent contributions made to your super account, after meeting the initial condition of release, will not be accessible until you meet another condition of release.
      Hope this makes sense.
      Regards,
      Chris

      Reply
  27. brett

    Hi Chris

    Im a 60yo Nurse. Im looking at ceasing my full time employment and commencing a casual employment with the same hospital soon after. Would this be considered a ceasing of employment arrangement? Would i be able to withdraw a lump sum of my super?

    Reply
    • Chris Strano

      Hi Brett,
      Ceasing an employment arrangement usually means that no agreement or understanding is in place about future employment with the same employer (i.e. a gainful employment arrangement remains in place and is therefore not ceased). Therefore, this may not satisfy the requirements.

      Reply
  28. Ben

    This is exactly why I do not put money into super because its convoluted and i dont want to have to meet some lame rules to access my own money. Add to that the fact that the government can change any of the rules anytime they want. I dont trust them one bit. It wouldnt surprise me at all if when i reach 60 they change it to 70

    Reply
    • Chris Strano

      Hi Ben, you are right. There is always going to be legislative risk with superannuation, as there is with anything in this crazy world of ours. It’s always important to be aware of the risks and then determine the risk-reward of a particular strategy.

      Reply
  29. Carolyn

    I am 61 and just finished a work contract and now no longer working. I was advised by someone to go on newstart allowance so I could work on my own business and do voluntary work, which would cover my centerlink obligations. My concern is that my superannuation will dry up with fees if I leave it. If I draw on my super, am I able to have a business? It won’t be a big money earner, rather an interest. What do you believe would be best?

    Reply
    • Chris Strano

      Hi Carolyn,
      Generally, if you stop working your super will remain invested and, although there are usually fees deducted, the earnings from investments are intended to produce returns in excess of the fees over the long-term. However, it depends on how your funds are invested and how high the fees are. Some super funds have very high fees. By ceasing an employment arrangement after age 60, you have achieved a superannuation condition of release. This means that all the super you accumulated up until the day you stopped working should be accessible in full, regardless of whether you continue to work or not. However, you will not be able to access any subsequent super contributions without meeting another condition of release.
      Hope this helps,
      Regards,
      Chris
      Related Posts:
      What Happens To My Super After I Stop Working?
      Can I Withdraw My Super to Start A Business?

      Reply

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