New rules for over 65s



A 1 July 2020 change in super legislation is making it easier for anyone approaching or entering retirement to contribute extra to their super.

Previously, any Australian aged over 65 would have to satisfy a work test before making additional super contributions. The new law has extended this age limit to 67, making it possible for Australians aged 65 and 66 to top up their super, regardless of whether they are working or not.

This change is particularly helpful if your super balance is lower than you’d like, as it may buy you a couple of extra years to make contributions. Or, if you come into a lump sum, you may want to consider using this money to implement contributions, estate planning or spouse equalisation strategies.

If you're aged between 65 and 67 and want to find out if you can benefit from this new rule, get in touch with the VISSF Advice Team who are here to help you make the most of your retirement strategy.

What is the work test?

The work test requires you to have been gainfully employed for at least 40 hours in any 30-day period in the year you contribute to your super.

Find & combine

Consolidating your super into one account makes your money work harder because you save on paying multiple sets of fees.

Learn more