How can I withdraw from my superannuation?

When the time comes to start drawing from your super, it helps to know how to make a withdrawal and limits you should consider.

This is relevant to you if you're thinking about withdrawing your super early, approaching retirement or if you're a temporary resident who is permanently leaving Australia.

There are some minimum and maximum amounts you can withdraw from your super, which vary depending on how you take the money out.

There are also tax implications for each type of withdrawal which will also vary, depending on your age, how old your benefit is and the type of fund it has been in.

If you're withdrawing a lump sum

There are generally no limits on how much you can withdraw, although the system does encourage you to draw on your super payout through a pension. Previous limits, known as Reasonable benefit limits, were abolished in 2007.

Transition limits

There is a maximum annual withdrawal limit of 10% of the balance for transition to retirement pensions (in addition to the applicable minimum annual withdrawal limits).

Account based pensions

Age Minimum annual payment as percentage of balance
55 to 64 4%
65 to 74 5%
75 to 79 6%
80 to 84 7%
85 to 94 11%
95 and over 14%

Taking your super home

Some temporary residents (on specific visas) who have departed from Australia can apply for the early release of their superannuation, excluding New Zealand citizens.

You can claim your super if:

  • you were a temporary resident who visited Australia on a temporary visa
  • your visa has expired or been cancelled, and
  • you have left Australia. 

If these three points apply to you, you can apply to claim your super at any time. To find out more visit our Temporary residents: taking your super home FAQ.

Viewing your withdrawl value in My AMP

  1. Log into your My AMP account
  2. Select to view 'More details'
  3. Select 'Withdrawal Value & Superannuation Benefit details'.


If you have Term Deposit Investment Options (not available within all products), please consider:

  • The initial amount invested is included in the account balance and withdrawal value
  • Notional investment earnings are included in the withdrawal value
  • Adjusted crediting rates apply if a Term Deposit is terminated early.

An accrual is a debit or credit that is applied to your balance if you close your account and withdraw your funds.

Some accruals represent interest you've earned or payments you've made in advance, such as insurance premiums. In these cases, the amount is added to your balance.

Other accruals represent charges that are applied to your account in arrears, such as management fees. In these cases, the amount is taken off your balance.

Let's say you pay a monthly insurance premium of $69.12 in advance. If you were to close your account and withdraw your funds 10 days after your last payment, you would receive a partial refund of $51.84, representing the balance of 20 days you have already paid.

What does the accrual amount mean?

You can find out your exact accrual amount within My AMP. Your accrual amount represents the sum total of your debits and credits.

If you see a positive number, then your total accruals amount to a credit that would be added to your total account balance if you were to close your account and withdraw your funds.

If you see a negative number, then your total accruals amount to a debit that would be taken off your total account balance if you were to close your account and withdraw your funds.

Consolidating your super?  Now is the time to bring it all together.