Do you have an SMSF and are looking to retire, what conditions of release do you need to meet to fulfil the super laws?

Preservation Age

You must have reached preservation age which is currently 55 years of age. If you are 65 or over you can access your funds as a lump sum or income stream without any restrictions.


You must have stopped work fully and be retired without intending to return to work.

Transition to Retirement Income Stream

If you are aged between 55 and 65 and still working you can access some of your super through a transition to retirement income stream. The amount you can access is limited.

Other Conditions of Release:

Specific rules apply to the payment of these benefits and specific advice should be obtained before accessing your funds.

Death of a Member

Upon the death of a member their super will be released to their   beneficiaries.


If a member has ceased gainful employment because of ill health.


If a member can't meet reasonable and immediate family living expenses and has been receiving government income support payments for a continuous period of 26 weeks and was receiving that support at the time they applied to the trustees. The payment needs to be a single lump sum of no more than $10, 000 (only one payment in a 12 month period).

Terminal medical Conditions

If a member has a terminal medical condition and two medical professionals certify that the condition is likely to result in the member's death in the next 12 months.

Compassionate Grounds

There are specific grounds for release that the Department of Human Services must approve. If the member is experiencing financial difficulty to pay expenses and if the release is allowable under the funds governing rules the member may be able to access a lump sum on a determination of "reasonableness". 

This article is general in nature and it is recommended you obtain specific advice from a qualified SMSF specialist to assess your individual requirements.