All contributions made by or on behalf of a member, and all earnings since 1 July 1999, are preserved benefits.
Preserved benefits may be cashed voluntarily only if a condition of release is met and subject to any cashing restrictions imposed as part of the condition of release.
Restricted non-preserved benefits can't be cashed until the member meets a condition of release specific to these benefits. Generally, they stem from employment-related contributions (other than employer contributions) made before 1 July 1999 or to rolled-over employer termination payments made before 1 July 2004 and can be cashed once the employment they relate to has been terminated.
These benefits don't require a condition of release to be met, and may be paid on demand by the member. They include, for example, benefits for which a member has previously satisfied a condition of release and decided to keep the money in the super fund.
See also:To cash preserved benefits or restricted non-preserved benefits, a member must satisfy one of the conditions of release – such as retiring after reaching their preservation age.