Question: What is the retirement age?Answer:
There is no definite retirement age in Australia. The retirement age typically coincidences the age at which an employee can access their pension. This age will gradually increase over the next decade or so from 65 to 67 as a result of rising life expectancy. Employees can access their super from the age of 55 years, however, there may be tax implications if you choose to remove funds from your super earlier than this age. Depending on the nature of your role, the option for early retirement may be flexible. This may be set out in your employment agreement.