As a member of ADF Super your super contributions, along with investment earnings, accumulate to form your retirement benefit.
Your superannuation benefit can be paid to you when:
When you retire, ADF Super will pay your benefit to you as a lump sum.
If you're ready to make a withdrawal, complete a Withdraw your super form.
Most of us simply want to maintain our current lifestyle and income into and throughout retirement. How can we do this? Start by thinking about some important questions:
Your super might have to last you for a long time after you retire — 20 years or more.
ADF Super has a comprehensive calculator to help you determine how much super you will have when you retire. If you think you'll need more, you can top up your super with extra contributions.
ADF Super will pay your super as a lump sum.
ADF Super doesn't currently offer income products or pensions for your super. If you would prefer to receive your super as a pension, you can transfer your super to another fund. To do this, complete a Withdraw your super form.
Transition to retirement arrangements allow people to access part of their super as an income stream when they have reached preservation age and are still working.
Your super benefit is valued and declared in units. When you withdraw super, you cash in or redeem your units at the applicable daily unit price on the business day your application is processed (which may not be the same day you request to withdraw).
We'll process your withdrawal request and pay your eligible benefit using the unit price applicable to your investment option or mix of options.
Find out more about super performance and investments.
If your super is paid to you as a lump sum after the age of 60, no tax is payable. Tax may be payable if you receive a lump sum benefit before reaching 60.
Complete a Withdraw your super form.
Retiring is a new stage in your life, and a big change from working every day. Keeping active and social is important for your long-term health.
The trustee of the ADF Super, Commonwealth Superannuation Corporation (CSC), has set up The 3rd Act – Freedom in Retirement program to encourage and support members to take a more holistic approach to planning for retirement. Visit the 3rd Act website.
Your preservation age is generally the minimum age you can access your super. It is set by law, and ranges from 55 to 60 depending on your date of birth.
Your date of birth
Before 1 July 1960
1 July 1960 to 30 June 1961
1 July 1961 to 30 June 1962
1 July 1962 to 30 June 1963
1 July 1963 to 30 June 1964
After 1 July 1964
When it comes to superannuation, ‘retirement’ has a specific definition related to your age and your intention (or not) to continue working.
To claim your superannuation at retirement, you must also reach preservation age, which is generally age 60 for people born after 1 July 1964 (see table above).
If your preservation age is less than 60, you are deemed to have retired when:
If you have reached 60 years of age, you are deemed to be retired when your gainful employment has ended, and either:
‘Gainful employment’ generally means employment (including self-employment) for gain or reward for at least 40 hours in a period of not more than 30 consecutive days in the financial year.