What happens to your super at 60? What you need to know

Turning 60 can open up new possibilities for your super and retirement, but knowing what to do next isn’t always straightforward. Can you access your super at 60 while working? Should you take a lump sum, start a pension or simply leave it invested? In this episode of In the Hammock, host David ‘Kochie’ Koch and Brighter Super expert Bec Harvey explain preservation age, conditions of release and the options that may become available, including a transition to retirement income stream and an account-based pension. Discover how a Transition to Retirement (TTR) pension works, what may be tax free after 60 and what to consider when choosing between a lump sum or retirement income stream - including your lifestyle, investments, Centrelink, the Age Pension and how long your retirement savings may need to last. **Watch to learn:** 00:00 – Why is turning 60 such a milestone for your superannuation? 01:10 – Why turning 60 matters: Preservation age and accessing your super 02:00 – ‘Conditions of release’ and key ages: The rules at ages 60, 65 and 67 (Age Pension) 04:20 – Transition to retirement: Using a TTR pension while working 05:26 – TTR drawdowns: Minimum and maximum annual payment limits 07:15 – Retirement income: How an account-based pension works 08:05 – Tax considerations: Investment earnings in accumulation and retirement 09:40 – Pension or bank account?: Moving money outside supe 10:28 – Lump sum withdrawals: Funding expenses while protecting future income. 11:06 – The bigger picture: Tax, Centrelink, longevity and estate planning 12:11 – Preparing for retirement: Budgeting and investing for the future 13:40 – Common mistakes: Getting help with important decisions 15:07 – Brighter Super support: Education, health checks and advice **Useful links:** Transition to Retirement Account | Brighter Super Superannuation Pension Account | Brighter Super Retirement Reward | Brighter Super Retirement Guide 2026  **Presenters:** David Koch, Retirement Advocate Bec Harvey, Senior Manager - Corporate Relationships, Brighter Super **Disclaimers:** To learn about the rules for accessing your superannuation, visit the ATO website: https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/withdrawing-and-using-your-super/super-withdrawal-options?.  Figures quoted are current for 2026/27 financial year. Minimum and maximum pension limits apply. General information only - other conditions and eligibility requirements may apply. Drawdown amounts each year are based on balance at 1 July. From 1 July 2026, Division 296 tax may apply an additional 15% to earnings attributable to a total super balance above $3 million (and a further 10% above $10 million). It applies across both accumulation and pension accounts. Learn more at ato.gov.au – Division 296 tax. Learn more about account-based pension minimum payments at https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/self-managed-super-funds-smsf/paying-smsf-benefits/income-stream-pension-rules-and-payments#ato-Minimumpensionstandards A fee from $500 applies for each additional Brighter Super advice service such as advice on consolidating super accounts or including a non-Brighter Super member. Examples provided are for illustrative purposes only. Brighter Super Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for Brighter Super (ABN 23 053 121 564) (RSE R1000160) (the Fund). Brighter Super may refer to the Trustee or the Fund as the context may be. Brighter Super products are issued by the Trustee on behalf of the Fund. The information contained is up to date at the time of publishing and may change. This podcast may contain general advice, which has been prepared without taking into account your individual objectives, financial situation or needs. Consider the appropriateness of the advice to your objectives, financial situation and needs before acting on the advice. Brighter Super representatives and partners are authorised to provide advice on Brighter Super products and superannuation in general. See our Financial Services Guide (FSG) for more information. You should also obtain and consider the Product Disclosure Statement (PDS) before making any decision to acquire any product or contribute additional amounts to your Brighter Super account. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at https://brightersuper.com.au/pds.