Access my super

Your super is set aside for life after work, however early access is sometimes possible

Ways to access your super

Your super is your money saved for life after work, so there are rules around how and when you can access it.

In most cases, you can only access your super once you’ve reached your preservation age and met a condition of release. However, there are extenuating circumstances where you may be able to access your super early.

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Conditions of release

Most of your super savings are ‘preserved’. This means you generally cannot withdraw your super until you reach your preservation age. Preserved benefits must stay in the super system and can only be paid in cash once you have satisfied a condition of release.

  • You reach age 65
  • You cease employment after reaching age 60
  • You retire from the workforce after reaching your preservation age
  • You die, suffer from a terminal medical condition or become permanently disabled
  • You receive specific approval by the Trustee in the case of demonstrated severe financial hardship
  • The ATO approves the release of your benefit on specified compassionate grounds

Preservation age

Your preservation age will vary depending on your date of birth.

Date of Birth Age
Before 1 July 1960 55
From 1 July 1960 until 30 June 1961 56
From 1 July 1961 until 30 June 1962 57
From 1 July 1962 until 30 June 1963 58
From 1 July 1963 until 30 June 1964 59
On or after 1 July 1964 60

Financial hardship

If you’re experiencing financial difficulties, you may be eligible to access some or all of your super to meet your living expenses if you:

  • have received eligible government income support payment continuously for 26 weeks, and
  • are unable to meet reasonable and immediate family living expenses.

Generally, you can apply to withdraw between $1,000 and $10,000 in a 12 month period, or your whole balance (after tax) if it’s less than $1,000.

If you’re struggling financially, we can help you explore options that may be available to you. Before taking action to withdraw your super, call our Client Services Team for more information.

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Compassionate grounds

If you are unable to gain early access to your super benefits on severe financial hardship grounds, you may consider asking the ATO to approve the release of some or all of your benefit on specified compassionate grounds.

The ATO will assess if you are eligible for a compassionate grounds claim and determine the amount you can withdraw based on how much you will reasonably need. For example, you may be allowed to use some of your super money to pay for:

  • medical treatment or transport
  • palliative care
  • home or vehicle modifications to accommodate a disability
  • mortgage repayments of council rates
  • expenses associated with death or terminal illness

For more information we recommend speaking to our Client Services Team or refer to the ATO website.

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First Home Super Saver

If you’re a first home buyer, you may be eligible to withdraw super to put toward a home deposit.

From 1 July 2018, if you are 18 years or over, you can apply to release your personal contributions along with associated earnings - up to a maximum of $15,000 from any one financial year and $30,000 in total across all years - for the purpose of helping you purchase your first home.

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Departing Australia

If you’ve worked in Australia as a temporary resident and you have left the country, you can reclaim your super as a Departing Australia Super Payment (DASP).

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Pay yourself forward

Set yourself up to receive enormous benefits when you finish up at work by making some small changes now. Future you will thank you for it.

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