- Restricted non-preserved
- Unrestricted non-preserved
The preserved amount is that part of your benefit which by law must be kept in a superannuation fund until you meet a conditions release.
These include (but are not limited to) where you:
- reach your preservation age (see table below) and retire,
- cease employment on or after age 60, or
- reach age 65.
|Your date of birth||Preservation Age|
|Before 1 July 1960||55|
|1 July 1960 – 30 June 1961||56|
|1 July 1961 – 30 June 1962||57|
|1 July 1962 – 30 June 1963||58|
|1 July 1963 – 30 June 1964||59|
|After 30 June 1964||60|
You can access your preserved benefits if you:
- have less than $200 in your super account,
- suffer from total and permanent disability,
- use a transition to retirement strategy to open an account-based pension,
- apply under severe financial hardship or other compassionate grounds,
- are not an Australian resident who is leaving Australia, or
RESTRICTED NON-PRESERVED BENEFITS
If you received contributions from your employer prior to 1 July 1999, you may have benefits which are referred to as restricted non-preserved.
The restricted non-preserved amount (if any) is the part of your benefit that is payable in cash on ceasing employment or upon attaining age 65. Your benefit will then become un-restricted non-preserved.
UNRESTRICTED NON-PRESERVED BENEFITS
You can access unrestricted non-preserved benefits and withdraw them from your super account at any time.
HOW TO DO IT
To make a withdrawal from NGS Super based on the above conditions of release, please complete the benefit payment instruction PDF Form below.