Make a withdrawal
To withdraw funds from your pension account, there are certain criteria set by the government that you'll need to meet.
You can make a lump sum withdrawal from your pension account:
- if you’re 65 or over;
- if you’re between preservation age and 64 and have permanently retired;
- if you have unrestricted non-preserved benefits*; or
- if you’re between 60 to 64, but changed employers after turning 60.
You can return the Pension withdrawal application form via post to Locked Bag 2020 Newcastle NSW 2300. For
assistance in completing this form or understanding eligibility requirements, please get in touch via 13 64 63.
Did you know? Once you've made an initial withdrawal using the form, you'll have easier access to the money in your account and can make subsequent withdrawals over the phone.
Things to consider
- Lump sum tax may apply to cash withdrawals.
- Higher tax rates may apply if you’re under preservation age.
If you’re unsure, don’t forget we’re here to help. You can give us a call on 13 64 63 or email email@example.com
If your needs are more complex we can put you in touch with a financial adviser from Mine Super Financial Advice.
* In this case, you can only withdraw the unrestricted non-preserved portion of your account. However if your preserved benefit is less than $200, you may withdraw the full amount.