Older workers may selectively dip into super

Older workers will be able to continue to work while also collecting superannuation payments under changes to super rules announced by the federal government. Under current rules, workers can access their super once they turn 55, but only if they’ve ceased working. Under the new rules, it will be possible to access super while working, as long as the super is paid out in the form of an income stream, rather than paid out as a lump sum. The government expects that older workers will be able to move in and out of casual or part-time work, while having access to superannuation to supplement their income.

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