At 60 you can access your super if you retire, but the Age Pension doesn't start until 67. The key is planning how to fund those first seven years, and the decades after.

Reviewed 31/10/2026. General information only, not personal advice.

What changes at 60

• You can access your super if you retire, or when an employment arrangement ends after you turn 60.
• Withdrawals are generally tax-free from a taxed super fund.
• You can start an account-based pension, where earnings are tax-free in the retirement phase.

The seven-year gap

The Age Pension age is 67. If you retire at 60, you'll usually need to fund about seven years entirely from your own money, before any Age Pension is available. After that, a part pension may top up your income if your assets and income are low enough.

How much might you need?

There's no single number. The ASFA Retirement Standard is a useful starting point. Its lump sums assume retirement at 67 with a part Age Pension, so retiring earlier usually means you need more.

Things that push your number up or down:

• how much you plan to spend, especially in the active early years
• whether you own your home outright
• your health, and how long you plan for
• other assets and income, such as investments or part-time work

Our super calculator can give you a first estimate of your balance at retirement.

Decisions to make in your 50s

1. Your target spending. Work out what retirement will actually cost you.
2. Extra contributions. Use the concessional cap ($32,500 for 2026-27) and any carry-forward amounts while you're earning.
3. Debt. Plan to pay off the mortgage and other debts before you stop work.
4. Insurance. Decide what cover you still need, and whether it's held in super.
5. Investment approach. Decide how your super is invested for a retirement that could last 30 years.
6. Easing in. Decide whether working part time with a transition to retirement strategy suits you.

Risks to plan for

• Sequencing risk: a market fall just before or after you retire, while your balance is largest
• Longevity: living longer than you planned for
• Inflation: rising costs eroding what your income buys
• Health and aged care: costs that tend to rise later in life

See what it means for you

Your initial discussion is free, and any advice fees are explained before you decide to go ahead. Book an initial discussion or call 07 3733 1731. Meet face to face in Eight Mile Plains, or online anywhere in Australia.

Frequently asked questions

Can I retire at 55?

You can stop working at any age, but you generally can't access your super until 60. Retiring at 55 means funding the years before 60 from savings and investments outside super, and the years before 67 without the Age Pension.

Is $1 million enough to retire at 60?

It depends on how much you plan to spend, whether you own your home, your health, and whether you're single or a couple. A larger balance gives more flexibility, but the same amount can be comfortable for one household and tight for another. Our super calculator can give you a first estimate.

Will I pay tax on my super if I retire at 60?

For most people, withdrawals and pension payments from a taxed super fund are tax-free from 60, and earnings in a retirement phase pension are tax-free too.

Related reading

• Retirement Planning
• Super calculator
• When can I access my super?