Your superannuation provides you with an income when you are no longer working, so there are strict rules around when you can first access your super. But there are special exceptions where you may be able to withdraw your super earlier, provided you meet certain eligibility requirements. If you receive government income support payments and are having trouble covering your expenses, early access to your super may be an option for you.
It's easy, and you can do it online. We use cookies to improve your experience on our site, including remembering your preferences, analysing traffic and tailoring advertisements. By using this website, you consent to the use of cookies in accordance with our Cookie Policy. Please enable JavaScript in order to get the best experience when using this site. Super When can I access my super? Financial hardship Compassionate grounds Temporary residents departing Australia Nominating beneficiaries.
Date of birth Preservation age Before 1 July 55 1 July - 30 June 56 1 July - 30 June 57 1 July - 30 June 58 1 July - 30 June 59 1 July or after 60 Disclaimer All super contributions and all investment earnings made after 1 July are preserved in super.
Can I access my super early? Severe financial hardship Compassionate grounds Permanent departure from Australia Terminal medical condition Permanent incapacity For more information and other circumstances, see early access to your super on the ATO website. Severe financial hardship Members in severe financial hardship can apply to Cbus for the early release of all or part of their super. You may be able to withdraw some of your superannuation if: Your age Conditions you must meet A Under preservation age 1.
You are unable to meet reasonable and immediate family living expenses. B Preservation age and 39 weeks or over 1. You have been on an eligible Commonwealth Government income support payment for a cumulative period of 39 weeks after you have reached your preservation age, and 2.
How do I apply? Have your Centrelink Customer Reference Number CRN handy when you call us so that we can confirm you meet the eligibility criteria over the phone.
What is compassionate grounds? You may be able to withdraw some of your super early on compassionate grounds if you need to pay for: medical costs — for treatment or travel to treatment for you, your partner, child or other dependant mortgage — to stop the bank from selling your home disability — to modify your home or car to accommodate the special needs or you or your dependant which arise from a severe disability palliative care — for you or a dependant funeral — to pay for expenses for a dependant.
You can then complete a withdrawal form here — make sure your approval letter from the ATO is attached as we need this to process your claim. To learn more and book in a chat, visit our info page. Taxation issues are complex. You should seek professional advice before deciding to act on any information in this article. Superannuation Proprietary Limited N. You can read our Financial Services Guide online for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
You can also ask us for a hardcopy. All information on this website is subject to change without notice.
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