The retirement age for women, based upon the general concept or definition of retirement, is no different between men and women.

Therefore, the retirement age for women in Australia is the same as the retirement age for men.

I define retirement as the ability to cover living expenses with passive income.

Passive income is income that does not result from personal exertion. This may include income such as bank interest, share dividends, rental income, pension income, etc.

Most of this income can be received regardless of age.

Therefore, depending on the income generated from investments and level of living expenses, a person has the ability to retire at any age.
 

Retirement Age for Women – Superannuation

 
Superannuation is a tax structure that allows men and women to save for your retirement in a tax-effective manner.

However, by taking advantage of these tax concessions, you are unable to access your savings until you meet a certain age.

The retirement rules for women in relation to superannuation are subject to the circumstances of the individual.

It can range between 55 – 60 (depending on your date of birth). This is known as your superannuation preservation age, which can be calculated here.

Your preservation age is the earliest age that you can access your super in some form or another.

The form in which you can access your super and any limits imposed are determined by your employment status.

Once you reach age 60, access to superannuation can be a little easier, but is again determined by your employment status.

Draw downs from super after age 60 are usually tax free. This is why age 60 is widely considered the best time to retire for tax purposes.

Once you reach age 65, you will have unrestricted access to your super, regardless of your work status.

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Retirement Age for Women – Centrelink Age Pension

 
The Centrelink Age Pension – sometimes rudely referred to as the Old Age Pension! (I think ‘Older Age Pension’ or ‘Mature Age Pension’ is more appropriate. Matter of fact, if it was up to me, I would call it the ‘I’ve worked my butt of for the past 45 years’ Pension)….. Anyway, the Centrelink Age Pension is a social security benefit paid to Australians who meet certain age and residency requirements.

The age that women are eligible for the Age Pension ranges between 65 and a half and 67, depending on when you were born.

 

Retirement Age Calculator

 
The retirement age calculator below allows you to calculate the retirement age for women and men.

It details what age you can get the pension and what age you can access your superannuation.

There is no compulsory retirement age in Australia.

Use the retirement age calculator below to see what age you can receive your super pension and/or Centrelink Age Pension, based on the year you were born.

If you would like anything clarified or have any further questions about Retirement Age for Women or any other topics, please do not hesitate to leave a comment.

Chris Strano

Chris Strano created SuperGuy to help the average punter navigate through the complex and ever-changing super rules. It has since become one of Australia's leading digital super resources. Subscribe to SuperGuy's YouTube channel for the latest strategies to boost your super savings. https://www.youtube.com/channel/UCs1ARI2y18hrjNYVqjtJ-pQ

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