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Changes to Early Access of Super


If you are unable to work and struggling to meet financial commitments you may have two options available to you to access your superannuation while an injury claim, or insurance claim, is being processed:

  1. Financial hardship

You may be able to withdraw some of your super if you have received Australian Government income support payments continuously for 26 weeks and are unable to meet reasonable and immediate living expenses.

The maximum amount that can be paid is $10,000. You can only make one withdrawal from your super fund because of severe financial hardship in any 12 month period.

  1. Compassionate grounds.

You may be allowed to withdraw some of your super on compassionate grounds.

The amount of super that you can withdraw on compassionate grounds is limited to what is reasonably needed. Examples of compassionate grounds includes, but is not limited to:

  • paying for medical treatment for you or a dependant
  • making a payment on a loan to prevent you from losing your house
  • modifying your home or vehicle for the special needs of you or a dependant because of a severe disability
  • paying for expenses associated with a death, funeral or burial of a dependant.

Applications for withdrawal of superannuation on compassionate grounds or for financial hardship must be made with the Australian Taxation Office via your MyGov portal, or visit the ATO website.

If you have not reached the preservation age you may be required to pay tax on any superannuation withdrawn. We are unable to provide tax or financial advice and we strongly advise you to discuss your financial affairs with a financial advisor.