Noel Whittaker is the author of Wills, Death & Taxes Made Simple and numerous other books on personal finance. Email: [email protected]
It was a quiet Friday—until my inbox exploded.
A distressed reader had just seen what she thought was a government announcement: from 1 June 2025, nobody would be allowed to touch their super until age 70. She was shocked and panicky. It was all news to me, so I asked her to send a screenshot.
What came back looked highly convincing. It was a professional-looking Apple News article featuring a photo of the Prime Minister, complete with quotes and policy details. It claimed the preservation age was being lifted to 70 and promised a ‘work bonus’ to soften the blow.
I told her it screamed fake news, and I was right.
Within hours, dozens more emails flooded in from readers who had seen the same article and were equally alarmed. That’s when I called the Tax Office.
They confirmed what I suspected: it was total rubbish. We immediately issued a special bulletin to all my news subscribers to warn them it was a fake.
This is AI and social media being weaponised. With a few clicks, scammers whip up a fake news release so real it fools half the country. They blast it out on email or Facebook, and their goal is dead simple: get you to click.
One wrong move, and your device is toast, your data’s swiped, or your identity’s gone.
These scams aren’t just dodgy texts anymore: they’re polished, gut-punching lies built to spark fear and chaos.
The stakes are high when it comes to superannuation—one of your most important assets.
Let’s be clear: any major changes to superannuation rules, such as lifting the preservation age, would be front-page news. They’d be announced through formal channels, usually as part of the Federal Budget, and covered extensively in mainstream media.
If you haven’t seen it on the evening news or read it in a major newspaper, chances are it isn’t real.
Here are the facts.
The preservation age is currently 60, and there are no plans to increase it. Once you reach preservation age, you can access your super if you meet a ‘condition of release’. That typically means retiring or ceasing employment, though it doesn’t have to be from your main job. Even resigning from a casual job may be enough.
If you’re 60 or older and can’t satisfy a condition of release, you can start a transition-to-retirement (TTR) pension, which allows you to draw up to 10% of your super annually, even while still working. It’s a useful strategy for those wanting to cut back their hours without sacrificing income.
From age 65, you can access your super regardless of your work status.
For people on temporary visas, the Departing Australia Superannuation Payment (DASP) scheme allows you to withdraw your super once you’ve left the country permanently.
In limited cases, you can access super before preservation age: for example, if you’re permanently incapacitated, terminally ill, suffering severe financial hardship, or facing large medical bills.
Each situation has strict eligibility rules and requires approval from the ATO or your super fund.
Super is a long-term investment. But it’s also a tempting target for scammers, because it’s where most Australians keep a large chunk of their retirement wealth. That’s why you need to stay vigilant, question what you see online, and never act on anonymous messages without checking first.
If something sounds extreme or sudden—like moving the preservation age to 70 overnight—don’t panic.
Don’t click.
Don’t forward it.
Just check with a reputable source like your fund, a licensed adviser, or government websites.
A moment of doubt can save you a lifetime of trouble.
About the author: Noel Whittaker, AM, is the author of Wills, death & taxes made simple and numerous other books on personal finance. An international bestselling author, finance and investment expert, radio broadcaster, newspaper columnist and public speaker, Noel Whittaker is one of the world’s foremost authorities on personal finance. Connect via Twitter or email ([email protected]). You can shop his personal finance books here.
Advice given in this article is general in nature and is not intended to influence readers’ decisions about investing or financial products. Always seek professional advice that takes into account your personal circumstances before making any financial decisions. The views expressed in this publication are those of the author.
For clarification of any claim like that I would go directly to my super fund.
The dead giveaway it was a fake news site was the date of commencement 1 June 2025.
No changes are ever made on 1 June.
They are always made on the beginning of the financial year, i.e 1 July or the calendar year 1 January but never 1 June.
I reported the site as fake (with a link) to Google and the ATO.
Of course Google or Facebook won’t do anything. They never do as ad revenue is more important to them than shutting down scams and fake news.