HOW DO I…withdraw super from my account (partial withdrawal)?

 

Things to know before you start:

  • Super is designed to provide an income for you in retirement so it’s important to consider any long-term effects if you withdraw your super in cash before retirement.
  • There may be significant tax implications if you withdraw your super in cash before age 60 — refer to our How super benefits are taxed fact sheet.

Getting started:

  • Accumulate Plus (super) accounts
    • Step 1:

      If you intend to withdraw any of your super in cash, check that you have met a condition of release allowed by law.

      Step 2:

      Complete our Withdrawal form.

      Step 3:

      If you joined the fund on or after 12 December 2007, you should also complete our Identification and verification form, unless this has been completed for our fund previously.

      Step 4:

      Once we’ve received your completed forms and processed the request, generally within a couple of days, we’ll write to you confirming the transaction.

  • Retirement Access (pension) accounts
    • Step 1:

      If you intend to withdraw any of your super in cash, check that you have met a condition of release allowed by law.

      Step 2:

      Complete our Withdrawal form – ensure you have indicated on the form whether you’d like the withdrawal treated as a lump sum payment or an irregular pension payment, as different tax and social security implications may apply.

      Step 3:

      If you joined the fund on or after 12 December 2007, you should also complete our Identification and verification form, unless this has been completed for our fund previously.

      Step 4:

      Once we’ve received your completed forms and processed the request, generally within a couple of days, we’ll write to you confirming the transaction.

  • Defined Benefit accounts
    • If you’re a deferred or post-employment member and considering withdrawing your defined benefits, it’s important to understand how this may affect your retirement entitlements – refer to the Member Booklet for your division for more information.

      Step 1:

      Please call us on 1800 135 970 to request a benefit quote (including payment/withdrawal forms) if needed.