Early Release from Superannuation

Set out in superannuation rules are set methods of gaining access to the money inside your superannuation account, such as retirement at 55 years old, 65 years old, and death.

There are however two and half methods for gaining early access to superannuation

  • Severe Financial Hardship
  • This is for people who have come on to hard time and need assistance, there are a number of conditions required and is subject to approval by the superannuation fund trustee.

  • Compassionate Grounds
  • This is for a very specific and important reason, such as medical costs, loss of family home, and palliative care. Applications are made through the governments Human Services Department.

  • Temporary Resident Leaves the Country
  • The half measure is only availible for those temporary residents that leave the country, a classic example is back packers when they leave the country there is the posibility that their superannuation can be withdrawn. Please note this is very limited method and does not apply to Australian residents leaving to go on holiday or to become expats living overseas.