Managing your retirement

Superannuation is a long term investment, so Commonwealth Government legislation ensures that your money is kept in your super account until you reach preservation age. Your preservation age depends on your date of birth.

What happens to your super when you retire?

Choosing when to retire is a personal decision which may require professional financial advice. 

If you're over 55 and leave your current employment because you've retired, you may be able to access your super.  If you're not over 55, your super will stay invested until you reach preservation age and fully retire or start a transition to retirement income stream.

If you're a Gold State Super account holder, generally you can access your super when you're over 55 and no longer working for the WA public sector or start a transition to retirement income stream.

There are other means by which you can access your super.

Your retirement income

To support your retirement lifestyle, you'll need a regular income. When it is time to access your super investment, you have a choice of:

• Starting a pension from your super with an income stream such as GESB's Allocated Pension.
• Taking your super as a lump sum benefit
• Retaining your money in a super account (such as GESB Super or West State Super) and accessing it when you want
• Or a combination of these retirement options.