Preserving Your Super

Your Super, Your Future

Superannuation is a long-term investment and Government legislation may require that your benefit cannot be paid to you until some future time. That is, all or part of your benefit may have to be preserved.

All member and employer contributions plus investment earnings must be preserved.

Preserved benefits must stay in the superannuation system and can only be paid in cash once you have satisfied one of the following conditions of release:

  • You reach age 65;
  • You cease employment after reaching age 60;
  • You retire from the workforce after reaching your preservation age;
  • You die, suffer from a terminal medical condition or become permanently disabled;
  • You receive specific approval by the Trustee in the case of demonstrated severe financial hardship; or
  • The Australian Taxation Office approves the release of your benefit on specified compassionate grounds.

Your preservation age is based on your date of birth

Date of Birth


Before 1 July 1960


From 1 July 1960 until 30 June 1961


From 1 July 1961 until 30 June 1962


From 1 July 1962 until 30 June 1963


From 1 July 1963 until 30 June 1964


On or after 1 July 1964


The amount of your preserved benefit is shown on the Benefit Statement issued to you each year.

Restricted non-preserved benefits

While you are an active member of VISSF and are employed by an employer who has made contributions on your behalf, any restricted non-preserved portion of your benefit cannot be paid to you in cash until your employment terminates.

Unrestricted non-preserved benefits

An unrestricted non-preserved benefit can be paid to you at any time.

If you no longer have a participating employer paying contributions to VISSF on your behalf your restricted non-preserved benefit becomes unrestricted.

Chant West Super 2018 Pension 2018

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