Do you have long service leave or annual leave that you could use to help you transition to retirement – taking regular leave between now and retirement, or in a block at the end of your working life.
Speak to your HR team about the options.
If you're aged 60-67
The super laws are designed to allow people aged 60-67 more flexibility to boost their super.
You may be able to transition to retirement, use your leave or recontribute to your super or to your spouse’s super which may offer tax and/or Services Australia (Centrelink) advantages.
Consider your leave entitlements
Downsizing your home
The minimum age you can make a downsizer contribution is 55 years old. It means that if you sell your home, you may be able to contribute the profits from the sale into your super. Conditions apply. You can find out more about making a downsizer contribution on the ATO’s website.
Visit the ATO websiteTransition to Retirement
Working fewer hours to ‘practise’ for life in retirement might work for you. There may also be financial advantages..
You may be able to access your Voluntary Contribution account to set this up. Speak to us to find out if this option is available to you.
Watch the videoYou may be able to take some of your super now
If you are 65 or older, you may choose to access the super you’ve contributed to your Additional Voluntary Contributions account – even if you’re still working.
If you want more information about this, chat to us on 1300 307 844.
Retirement Timeline
5 years before retirement
Speak to us |
Learn how to make the most of your super and future options. |
Check your super |
What is your current Points balance? Are you ahead or behind? If you are behind your standard points, have you considered upping your contributions?
Additionally, are you making Additional Voluntary Contributions or are you planning to start making these AVCs? You may be able to access these as a lump sum at retirement or as you transition to retirement. |
Check your general finances |
Do you have debts to pay down? Are you planning to pay them off with your super benefit?
Will you have a mortgage at retirement? Will you use your super benefit to pay that down or pay it off completely? And do you know what that will mean for your lifestyle in retirement? Our video will help you get started thinking about your options if you still have a mortgage at retirement. |
Speak to your partner |
Are you in agreement on your retirement plans?
Does your partner’s super need a boost? |
Consider your current living situation |
If you own your home, are you considering downsizing in future? You could put proceeds from the sale into your super (conditions apply).
The ATO’s website has more information about the conditions of making a downsizer contribution and the steps you need to complete. |
3 years before retirement
Speak to us |
Check that you are still on top of all the options available to you. |
Check your super |
Check that you are on track to achieve your desired points balance and Additional Voluntary Contributions balance.
If you are not, what steps can you take to boost your super? Learn more about different ways you can contribute to your super |
Check your general finances |
If you haven’t already, think about how you’ll deal with any outstanding debts, or consider putting additional money into super. |
1 year before retirement
Speak to us |
Check in to make sure you are still on top of all the options available to you, in line with the current rules and legislation. |
Consider your options |
If you are going to receive a lump sum on retirement, have you thought about whether you will want to invest it and how you will do that?
Do you need to set up an Income Stream to draw a regular income from as soon as you retire? Or do you have other money to live off at first? Remember, speaking to us will help you understand your options and how an Income Stream using some or all of your super balance may work for you. |
Make some lifestyle and leisure plans |
Make a list of suggestions for yourself on how you’d like to spend your time.
Are there activities you could take up now to make the transition into retirement easier for you? If you plan to travel, consider booking to secure earlybird prices but make sure to check out the cancellation and refund clauses. Stay on top of the current vaccination requirements. |
3 months before retirement
Speak to us |
Check in that you’re on track and make sure you understand all of your options, including strategies around re-contribution, maximising Centrelink and increasing your spouse’s super. |
Consolidate your money |
Do you have other super or ‘spare’ cash that you’re planning to consolidate into your retirement money? It could be time to bring your money together to get ready. |
1 month before retirement
Meet with us |
We can help you ensure you have all your paperwork requirements completed so your income can continue seamlessly when you retire.
We can also make sure you are aware of your options and have all the facts. |
Let people know |
Let your contacts and colleagues know and set up alternative contact details for them to use.
Make sure you discuss your plans with your family to ensure that their expectations of you in retirement are realistic (for example. if you aren’t planning to be an on-tap babysitter, make sure your adult kids know this, or if your elderly parents are looking forward to you visiting daily but that’s not your intention, ensure they’re aware of that!) |
Let us know too! |
Make sure that your contact details with us will still work after you’ve left work. Update your email in your ElectricSuper account to a personal email address and, if your phone number is changing, let us know. |
Come and talk to us
Get your super sorted with a face to face consultation.
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