SuperGuide

Superannuation and retirement planning information

Q&A: Can I withdraw a lump sum after I start a pension?

Q&A: Can I withdraw a lump sum after I start a pension?

Q: A generic question, once the super account is a pension account, can a lump sum be withdrawn, say, after one year of receiving a pension from it?

A: The simple answer to this question is you certainly can access a lump sum from your super fund so long as you are eligible to access a lump sum. So again, that would mean you're probably fully retired, or you're over age 65, or you're essentially eligible to have unrestricted access to your super.

About the author

Garth McNally

Garth has worked in the Australian Superannuation industry for over 20 years with a specific focus on self-managed super funds. He provides ongoing support and training to individuals as well as to professionals working in the superannuation area, including advisers, accountants and lawyers. He is a regular contributor to industry publications and to the leading professional bodies including Chartered Accountants Australia & New Zealand (CA ANZ).

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