What is Preservation Age?
Quick answer
Your preservation age is the minimum age at which you can potentially access your superannuation, but hitting that age alone doesn't automatically unlock your super, you also need to satisfy a separate condition of release.
What preservation age is
Preservation age is the age threshold below which your super stays locked away, no matter how much you need it. For anyone born after 30 June 1964, preservation age is 60. The phase-in period that gradually lifted it from 55 up to 60 finished years ago, so if you were born after that date, 60 is simply your number, full stop.
| Date of birth | Preservation age |
|---|---|
| Before 1 July 1960 | 55 |
| 1 July 1960 to 30 June 1961 | 56 |
| 1 July 1961 to 30 June 1962 | 57 |
| 1 July 1962 to 30 June 1963 | 58 |
| 1 July 1963 to 30 June 1964 | 59 |
| From 1 July 1964 | 60 |
What reaching it actually unlocks
Reaching preservation age opens up one thing on its own: a Transition to Retirement (TTR) income stream while you're still working. You must draw at least 4% and no more than 10% of your TTR balance each year, and it's non-commutable, meaning you can't take it as a lump sum, only as these ongoing capped payments.
Full, unrestricted access to your super only happens once you also meet a separate condition of release. The main ones are genuinely retiring, meaning you've left paid employment with no intention of working 10 or more hours a week again, ceasing an employment arrangement on or after age 60, or simply turning 65, regardless of your work status. Once you do move money into a retirement-phase income stream, how much you can move is capped by the transfer balance cap, a separate limit worth understanding before you get there.
Preservation age vs condition of release
| Preservation age | Condition of release |
|---|---|
| A fixed age milestone set by your birth date | A legal trigger determined by your life circumstances |
| Doesn't release your super on its own | Enables full, unrestricted access |
| Enables a TTR income stream | Required in addition to preservation age for full access |
Preservation age is the key, but a condition of release is the lock, you need both before your super is genuinely free to withdraw however you like.
Three common misconceptions
- Reaching preservation age doesn't mean you can just withdraw your super, you still need a condition of release.
- Preservation age is not 55 anymore for anyone born after 30 June 1964, it's 60, the ATO has specifically warned against this outdated figure still doing the rounds.
- A TTR income stream is payments only, you can't take a lump sum through it while it remains in transition phase.
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When can I access my super, in full
Preservation age, retirement, turning 65, early access rules, and the real cost of illegal early release schemes.
Frequently asked questions
What is preservation age right now?
60, for anyone born on or after 1 July 1964. The phase-in period that gradually raised it from 55 is complete, so this figure won't change for anyone reaching it today.
Can I access my super at 60 without retiring?
Yes, but only through a Transition to Retirement (TTR) income stream, not a lump sum. You draw at least 4% and at most 10% of your TTR balance each year while you keep working.
What's the difference between preservation age and retirement age?
Preservation age is a fixed milestone set by your birth date, it just unlocks TTR access. Retirement age isn't a single fixed number at all, full access to your super depends on meeting a condition of release, like genuinely retiring or turning 65, which is about your circumstances, not just your age.
Can I start a TTR pension while working full-time?
Yes. Reducing your hours is one common reason to start one, but plenty of people use a TTR pension purely to support a bigger salary sacrifice strategy while still working full-time.
What happens to my TTR pension when I actually retire?
It moves into full retirement phase. The 10% annual cap on withdrawals is removed, and earnings on the assets supporting it become tax-free rather than taxed at up to 15%.
Does reaching preservation age affect my tax automatically?
Not by itself, no tax changes the moment you turn 60. But once you start drawing an income stream from super, whether TTR or a full retirement pension, those payments become tax-free from age 60 onward.
Sources
Disclaimer
This is general information only, not financial or tax advice. Conditions of release and super access rules can be complex, especially around TTR and early access grounds, confirm how they apply to your situation with the ATO or a licensed financial adviser before making a decision.