Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Register

12 November 2026

Home / 300 - Budget Special

Super boost: more flexibility for retirement

This is a copy of the Treasurer’s announcement on superannuation flexibility for people aged 65 and 66.

"The Morrison Government is taking action to help Australians boost their retirement savings by giving them greater flexibility as they near their retirement years.

From July 1 2020, Australians aged 65 and 66 will be able to make voluntary superannuation contributions, both concessional and non-concessional, without meeting the Work Test.

Currently, they can only make voluntary contributions if they meet the Work Test, which requires that they work a minimum of 40 hours over a 30 day period.

This means that Australians aged 65 or 66 years who don’t meet the work test, because they may only work one day a week or volunteer, will now be able to make voluntary contributions to their superannuation.

This will align the Work Test with the eligibility age for the Age Pension, which is scheduled to reach 67 from 1 July 2023.

There are around 55,000 Australians aged 65 and 66 who will benefit from this reform in 2020-21.

In addition, we will increase the age limit for spouse contributions from 69 to 74 years. Currently, those aged 70 years and over cannot receive contributions made by another person on their behalf.

We will also extend access to the bring-forward arrangements, which currently allow those aged less than 65 years to make three years’ worth of non-concessional contributions, which are capped at $100,000 a year, to their super in a single year. This will now be extended to those aged 65 and 66.

The Government can deliver these reforms because our responsible budget management allows us to guarantee the essential services that Australians rely on.

These reforms build on our Government’s plan to make sure Australia’s $2.7 trillion superannuation system is working in members’ best interests.

We have introduced new laws that reunite superannuation members with low balance or inactive accounts, scrapped exit fees and other excessive fees, and introduced legislation to protect Australians paying premiums for insurance they don’t want or need.

Helping Australians save for their retirement is part of our plan for a stronger economy and securing a better future."

 

  •   2 April 2019
  • 1
  •      
  •   

RELATED ARTICLES

Super wishlist: what the industry hoped for

Superannuation’s structural failings

The strange effect of the 30% minimum capital gains tax

Firstlinks is sponsored by:
banner

Most viewed in recent weeks

Division 296: the initial moves to make before the windows close

What if the best superannuation strategy isn't about earning more, but acting before your options disappear? Several overlooked planning windows are narrowing, with consequences that can last for decades.

The retirement scorecard: how many of these questions can you answer?

From the maths of retirement, estimating spending and picking the right asset allocation to survive a poor decade, here are the questions every retiree – current or future – should be able to answer for themselves.

Testamentary trusts: Treasury has picked the wrong reading

A decades-old estate planning tool has survived one tax crackdown only to be caught by another. The surprise isn't who the reform is targeting, but who could end up paying the price for drafting choices made years ago.

Superannuation’s structural failings

Politicians are fighting over access to super, but they may be arguing about the wrong thing. The system’s three fundamental flaws have been hiding in plain sight for decades, costing Australians far more than they realise.

Avoid unnecessary CGT with this estate planning clause

A simple estate plan can create a ticking time bomb. One overlooked clause can pit spouses against children, delay inheritances, and potentially leave a family facing an unexpected tax bill worth hundreds of thousands of dollars.

Higher yields are creating opportunities in global bonds

Bond markets are adjusting to a new reality, but not in the ways investors expect. With markets repricing and capital competing for attention, investors may need to rethink where resilience and opportunity lie. 

Latest Updates

Retirement

The retirement account that Australia should have

Our retirement system asks one account to do two very different jobs. A dedicated "rainy day" account separating income from emergency savings could deliver better outcomes and greater peace of mind for retirees.

Investing

What the US midterm results mean for investors

Democrats have regained control of Congress, changing the equation in Washington. Whether that proves positive for investors will depend less on the result itself and more on what happens next for growth and markets.

Taxation

Should the capital gains tax reward risk?

A reader query on the recent CGT reforms has revealed a bigger issue. One overlooked feature of the old system may have done more than compensate for inflation. As we move to indexation, are we forgetting to reward risk?

Investment strategies

Bonds: The income and diversification trade-off

Rising yields have made bonds attractive again, but that does not mean they will behave as expected. As inflation, fiscal pressures and geopolitical risks reshape markets, the role of bonds may be more complicated than it appears.

Investment strategies

Why high-dividend investing deserves another look

Income investors have endured several lean years, but signs of a recovery are emerging. As opportunities improve, investors face an important choice between chasing headline yields and building a reliable source of income.

Investment strategies

Why 'overvalued' has been such an expensive word

Investors love simple rules, especially when markets appear stretched. Yet some of the strongest returns have arrived when the outlook seemed least attractive. This leaves an important question that history struggles to answer.

Investment strategies

AI – A good kind of bubble or just a bubble?

Investor obsession with AI is attracting unprecedented amounts of capital and confidence. But beneath the excitement lies uncertainties about returns, funding and risks that enthusiasts may not be paying enough attention to.

Sponsors

Alliances

  • ASA-Logo-RGB-ActiveGreen-web.png

Site Map

About Firstlinks

© 2026 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.