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The Tax Office has issued an alert about circulating misinformation regarding super preservation rules.
ATO dispels myths about super rules in response to fake articles
14 May 2025
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7 minute read
Emma Rosenzweig, deputy commissioner for superannuation at the Tax Office, told sister brand SMSF Adviser the ATO was made aware of an online article claiming the federal government would raise the super preservation age to 70, effective from 1 June 2025.
Among the other supposed changes circulating in fake news articles online, 1 June 2025 would see full lump sum withdrawal restricted to 50 per cent unless phased, a phased income stream requirement would be mandatory for all withdrawals, and tighter restrictions and caps added to early withdrawals for hardship.
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“I’m aware that there is false information circulating that there are changes to the superannuation preservation rules and withdrawal rules starting on 1 June. This is false. The maximum preservation age (the age when you can access your superannuation savings on retirement) is 60 for anyone born from 1 July 1964,” Rosenzweig said.
“Always consider the source of information you see, and if in doubt, go to trusted sources such as the ATO website www.ato.gov.au, your super fund website, your registered tax agent or licensed financial adviser. Beware of websites that might be trying to harvest your personal information such as your TFN, identity details or MyGov login details.”
Peter Burgess, chief executive of the SMSF Association, said this incident highlights the real risks of relying on unofficial online content, particularly for trustees managing their own super.
“Not only can misinformation lead to poor financial decisions, but many of these sites are phishing or scam platforms designed to harvest personal data,” Burgess said.
“We strongly urge trustees and the wider community to verify superannuation information through official government channels or trusted professional sources. We also encourage our members to share this message with their clients and networks to help prevent confusion and protect against fraud.”
In its guidance on accessing superannuation, the ATO stipulates that preservation age is not the same as pension age but is the age needed to be reached before an individual can access their super and depends on when they were born.
The guidance states that if you are 60 years old or older, your super payments may be tax-free.
You may receive your super benefits as:
A combination of both.
If you're 60 years old or older and your only source of income is super benefits from a taxed source, you won't need to lodge a tax return.
You will need to lodge a tax return if you have income from other sources or if you have tax withheld on your PAYG payment summary – superannuation income stream. This includes investments or some public sector super funds.
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