I saw this comment on a Superannuation Discussion page and seek to know if it is correct.
You can officially 'retire' and put your super into pension mode any time within the financial year that you turn 60 (ie when you're 59) but drawdowns before your birthday incur some tax - so anytime from July 1 if you're turning 60 at the end of the year. I put mine into pension mode on July 1 but didn't take any money out until my birthday the following March so it was completely tax free. Take some advice, but you can go early if you don't mind paying a little bit of tax (only on the 'taxable component' of withdrawals, and it's taxed at your marginal rate for the FY with a 15% rebate) ... so if you've got no other income and only draw down <$18k before your birthday and don't have other taxable income after your birthday, you may be able to wrangle it so you actually do get it out tax free before you're 60.
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