Nellie used to work with Patty and they are now best friends. Whilst Nellie chose to permanently retire, Patty, who is 62 years old, has decided to leave the company where she and Nellie worked for the last 25 years and start a new job with a rival company.

Question:

Patty would like to renovate her home and asks you if she is able to access her superannuation money. Advise if this is possible and explain why/or why not.