To withdraw funds from your pension account, there are certain criteria set by the government that you'll need to meet. 

You can make a lump sum withdrawal from your pension account:

  • if you’re 65 or over;

  • if you’re between preservation age and 64 and have permanently retired;

  • if you have unrestricted non-preserved benefits*; or

  • if you’re between 60 to 64, but changed employers after turning 60.

You can return the Pension withdrawal application form via post to Locked Bag 2020 Newcastle NSW 2300. For assistance in completing this form or understanding eligibility requirements, please get in touch via 13 64 63.

Did you know? Once you've made an initial withdrawal using the form, you'll have easier access to the money in your account and can make subsequent withdrawals over the phone.

* In this case, you can only withdraw the unrestricted non-preserved portion of your account. However if your preserved benefit is less than $200, you may withdraw the full amount.

How to make a withdrawal

1. Download

Download the Pension withdrawal application form.

2. Fill in

Complete all mandatory fields.

3. Certify your ID

You’ll need to provide certified ID with your withdrawal application before we can release any money from your account. Note: Once you’ve completed your first withdrawal using a form and supplied your identification, you can make withdrawals over the phone.

4. Submit

Return your completed form via post to Locked Bag 2020 Newcastle NSW 2300.

5. Deposit

We’ll process your withdrawal within five business days of receiving your request. 

Things to consider

  • Lump sum tax may apply to cash withdrawals.

  • Higher tax rates may apply if you’re under preservation age. 

If you’re unsure, don’t forget we’re here to help. You can give us a call on 13 64 63 or email help@mine.com.au.

If your needs are more complex we can put you in touch with a financial adviser from Mine Super Financial Advice.