Once you reach your preservation age (your superannuation access age) you might be able to start accessing your super – and you could start a pension so you can transition into retirement.

The ‘preservation age’. What it means and why it matters

The ‘preservation age’ is the minimum age that your super must be 'preserved' until. It’s currently between 55 and 60, depending on when you were born. Once you’ve reached the ‘preservation age’, you may then have access to superannuation funds, if certain conditions are met.

Date of birth

Preservation age

Before 1 July 1960


1 July 1960-30 June 1961


1 July 1961-30 June 1962


1 July 1962-30 June 1963


1 July 1963-30 June 1964


From 1 July 1964


This opens up several options for you to consider but these options also bring risks, so it’s important to speak to a professional, impartial retirement adviser before making any decisions.

Transitioning to retirement

If you’d like to work fewer hours without losing income, you’re now able to start a pension to replace your lost income. Called a ‘transition to retirement’ (TTR), it’s a way to free up your time to pursue other interests and spend more time with the grandchildren.

Retirement planning strategies

You also need to weigh up how withdrawing money early will affect your final retirement lifestyle. It means you’ll have less in your final super pot when you decide to fully retire.

Find out more

Request a complimentary financial planning consultation

With so many options, it’s a good idea to seek help to ensure you’re maximising your investment in your 50s. You can talk to your financial adviser or set up an appointment with a NAB financial adviser by calling 1300 558 863 (Mon-Fri, 9am-6pm AEST/ADST).

For more information, help with your questions and impartial general advice, visit nab.com.au or call MLC on 132 652.

Important information

The information contained in this article is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances. NAB recommends that you seek independent legal, financial and taxation advice before acting on any information in this article.

Let us help you get started with your retirement planning

Or call 1300 558 863 Monday to Friday, 8.30am to 6pm (AEST/ADST).

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Thinking about your future? MLC, our wealth management division, has a comprehensive range of superannuation solutions.


Find out more about pension through the NAB Group.

Let us help you get started with your retirement planning
Or call 1300 558 863

Mon-Fri 8:30am - 6pm (AEST/AEDT)