Withdraw when retired

Super to replace work income

There are a number of ways you can withdraw your super in retirement, for example as a:

  • lump sum 
  • income stream, or 
  • mix of lump sum and income stream

In the event of death or invalidity, a lump sum benefit will be paid.

See retirement income to learn about the income stream option for PSSap members called Commonwealth Superannuation Corporation retirement income (CSCri).

When you can withdraw super

You can withdraw your super if you have reached your preservation age and retired. Your preservation age is determined by your date of birth. It is age 60 if you were born on or after 1 July 1964.

See withdrawing super to find out your preservation age.

If your preservation age is between age 55 and 59, retirement means:

  • a work arrangement whereby you were gainfully employed finishes (even if it finished before you reached your preservation age); and
  • we are reasonably satisfied that you intend never again to become gainfully employed either on a part- or full-time basis.

If your preservation age is age 60, retirement means your gainful employment stops after age 60.

Process to withdraw super

Your super benefit in PSSap is valued and declared in units. When you withdraw super from PSSap, you cash in or redeem your units at the applicable daily unit price on the business day your application is processed (which may not be the same day you request to withdraw).

We'll process your withdrawal request and pay your eligible benefit using the unit price applicable to your investment option or mix of options.

See how PSSap works for more on how your benefit is valued including more information about unit prices.

How to withdraw super

Make an eligible withdrawal by completing the Withdrawing your super [PDF 875 KB] form.