Retirement Age Change 2025 : When Can 60+ and 67+ Access Pension & Super Together? has become a critical topic for Australians, Canadians, Americans and UK citizens alike as governments redefine retirement access rules, blending pension eligibility and superannuation or retirement savings to offer better support for older age groups.
Australia: Aligning Your Super and Age Pension Access for 60+ & 67+
In Australia, the retirement landscape is shifting. While your super can often be accessed from age 60 (if you meet the conditions) or age 65 for full access, the official age to claim the Age Pension is now 67.
Key points for Australians aged 60+ and 67+:
- If you’ve turned 60 and left the workforce, you may access your superannuation (depending on your preservation age) and start drawing from it.
- At age 67 and over, you become eligible for the Age Pension, subject to the income and assets tests.
- You can combine your super-withdrawal strategy and Age Pension eligibility to maximise income: for instance, starting a retirement income stream from your super while awaiting full pension payments.
For example, a person aged 62 may choose to access a portion of their super, invest or draw a retirement income stream, and later at 67 apply for the Age Pension. This blending of income sources helps bridge the gap between stopping full-time work and full pension eligibility.
Canada: CPP, OAS & Savings Access for 60+ and Beyond
In Canada, retirees aged 60+ and 67+ have more options around when to claim the Old Age Security (OAS) and the Canada Pension Plan (CPP). Delaying benefits often increases monthly payments.
By combining savings like RRSPs (Registered Retirement Savings Plans) or TFSAs (Tax-Free Savings Accounts) with delayed pension access, you can create a stronger retirement income stream. Many advisors recommend using a retirement planner to estimate how long your savings will last if you begin drawing from age 60 vs delaying until 67 or later.
United States: When 60+ and 67+ Can Use 401(k), IRA & Social Security Together
In the U.S., while you can access certain retirement accounts (like IRAs or 401(k)s) as early as age 59½, the full retirement age for Social Security benefits is around 67 (for many current cohorts).
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This means someone aged 60+ may begin drawing from retirement savings, while planning to claim Social Security at 67+ for greater income. The strategy of combining early account access plus delayed pension yields a more secure income stream in later years.
United Kingdom: Accessing Private Pensions & State Pension for 60+ and 67+ Retirees
In the UK, many workplace or private pensions can be accessed from age 55 (rising to 57 in future), while the State Pension age is currently 66 and expected to increase to 67.
For those aged 60+ and approaching 67+, blending private pension withdrawals with the later start of the State Pension can maximise lifetime income. Working with a financial planner to coordinate timing and tax implications is highly recommended.
How to Plan When You’re 60+ or 67+
Here are practical steps to consider if you’re aged 60 or above and aiming to combine super/savings and pension together:
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- Check eligibility ages: Understand your super preservation age and pension qualifying age in your country.
- Use tools/calculators: In Australia there’s a “Super & Pension Age Calculator” that shows when you can access both.
- Assess income timing: Drawing from super now vs later will affect how soon you qualify for pension and how long your funds last.
- Consider work extension: Staying in part-time work can boost super contributions and delay pension cuts, improving outcomes.
- Get professional advice: With assets, income tests and tax rules in play, speak to a certified adviser to coordinate your strategy.
The article titled “Retirement Age Change 2025 – When Can 60+ and 67+ Access Pension & Super Together?” highlights a smart retirement strategy: layering your super or savings with the later access of a pension to maximise income, flexibility and longevity. Whether you’re managing super in Australia, RRSPs in Canada, 401(k)/IRA in the U.S. or private pensions in the UK — the key is knowing when you can access each source and how to blend them for a stronger retirement. Plan early, stay informed and you’ll be better prepared for 2025 and beyond.
