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In summary, superannuation fund members who have reached the Preservation Age (currently 55 years and over) have the opportunity to continue participating in the work force and adding to their super, while drawing some of it as a non-commutable super income stream.

Non-commutable means they cannot take a lump sum payment from their income stream while they continue to work and they are limited to take annual income payments not exceeding 10% of their account balance.

They can, however, withdraw a lump sum when they retire.