One of the most common questions people ask when planning for the future is: “What retirement age in Australia should I aim for?”
It’s a great question but the answer isn’t as simple as picking one number. In Australia, retirement age can mean different things depending on whether you’re talking about superannuation access or the Age Pension. Let’s break it down in simple terms so you know exactly what retirement age in Australia means for you.
What Retirement Age in Australia Really Is
There is no official age when you must retire in Australia. You can choose to keep working as long as you like. But there are two key retirement ages that matter:
- Preservation Age: The age when you can start accessing your superannuation. For most Australians today, that’s 60 years old.
- Age Pension Age: The age when you may qualify for government support through the Age Pension. From 1 July 2023, the Age Pension age is 67 years old for both men and women.
Example: If you’re 60 and stop working in 2025, you can usually access your super tax-free. At 67, you may also receive a part or full Age Pension depending on your assets and income.
Preservation Age Explained
Your preservation age is set by the government and depends on your year of birth:
- Born before 1 July 1960 → Preservation age 55
- 1 July 1960 – 30 June 1961 → Age 56
- 1 July 1961 – 30 June 1962 → Age 57
- 1 July 1962 – 30 June 1963 → Age 58
- 1 July 1963 – 30 June 1964 → Age 59
- After 1 July 1964 → Age 60
So for anyone turning 60 in 2025, this is the earliest age to access super, provided you’ve retired or met another condition of release.
Age Pension Age in Australia
The Age Pension is Australia’s main government retirement support. As of 2025:
- The Age Pension age is 67.
- Both men and women are assessed equally.
- Your eligibility depends on an income test and assets test.
Many Australians rely on a combination of superannuation and the Age Pension to fund retirement.
What Retirement Age in Australia Means for Your Lifestyle
Knowing the retirement age is just one part of the story. You’ll also need to plan how much income you’ll need.
According to ASFA’s 2025 Retirement Standard:
- A single person needs around $51,000 a year for a comfortable retirement in Australia.
- A couple needs about *$72,000 a year.
This usually means a super balance of around $595,000 for singles and $690,000 for couples by age 67.
FAQs
1. What retirement age in Australia lets me access my super?
Most Australians can access their superannuation at age 60, which is known as your preservation age. However, you must also retire or meet another release condition before withdrawing your funds tax-free.
2. What retirement age in Australia for the Age Pension?
The Age Pension age is currently 67 for both men and women. This is when you may qualify for government support, provided you meet the income and assets test.
3. Can I retire before 60?
Yes, you can choose to retire before 60, but you usually won’t be able to access your superannuation until your preservation age. Retiring early often means relying on personal savings or other investments until you can legally draw on your super.
4. Do I have to stop working at retirement age in Australia?
No, there is no compulsory retirement age in Australia. You can keep working past 60 or 67 if you want to. Retirement age simply refers to when you can access super or apply for the Age Pension.
5. What’s the difference between superannuation age and pension age?
Your superannuation preservation age is the age (usually 60) when you can access your super, while the Age Pension age is 67. Understanding both helps you plan when your retirement income will begin and how long your super will need to last.
So, what retirement age in Australia really means depends on the context. You can access your superannuation at 60, while the Age Pension starts at 67. Together, these milestones help shape your retirement income and lifestyle.
Planning ahead is the key to retiring on your terms. The earlier you understand your preservation age, super balance, and Age Pension eligibility, the better prepared you’ll be.
At Wealthlab, we help Australians plan their retirement with clear strategies for superannuation, pension, and lifestyle planning.
👉 Book a consultation today to find out how to make the most of your retirement years.
Learn More About Retirement & Superannuation
https://treasury.gov.au/policy-topics/superannuation
https://www.servicesaustralia.gov.au/age-pension?
https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super