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Article from: Courier Mail
Alex Tilbury - May 14, 2009

BABY boomers and self-funded retirees can still access their superannuation at age 55, and will not have to wait until 67 like aged pensioners.

For the first time in 100 years, the age of receiving the aged pension has changed.

Federal Budget: news and analysis
The Government will begin increasing the aged-pension age in six-monthly increments from 65 in 2017 to 67 by 2023.

There was some confusion that the Treasurer was also planning to raise the superannuation preservation age, which is currently 55 and moving to 60, when people can withdraw their super tax-free.

The pension age is when you become eligible for government pension benefits depending on your income and assets.

Treasury secretary Ken Henry is reviewing the whole tax system and has foreshadowed a "gradual alignment" of the two systems.

Sunsuper chief executive Tony Lally said the change of the pension age had no impact on superannuation.

"There was no mention of changes to the preservation age in the Budget. They were never connected but in principle they would like to align them," Mr Lally said.

"That's aspirational rather than a definitive government policy but they are flagging that something needs to be done as they think 55 is too young."

For anybody born before July 1, 1960, the current age of withdrawing super is 55.