accessing your super
Super is your savings for your future, so there are some rules around when you can access it. Generally you need to wait until retirement, but sometimes (if you really need it) you can access it sooner.
retirement withdrawals
If you're withdrawing your super because of retirement, we can help you do this through your online account in just a few easy steps.
You first need to meet at least one of these conditions:
- you ceased an employment arrangement on or after age 60
- you are age 65 or over
- you permanently retire or commence a transition to retirement income stream on or after your preservation age (the age at which you can access your super).
The quickest way is to apply online — just log in to your online account.
Or if you prefer, download the paper form, fill it out and return it to us:
Income Stream lump-sum withdrawal form (pdf).
first home super saver scheme
The First Home Super Saver (FHSS) scheme lets you save a first home deposit by making voluntary before or after-tax contributions to your super.
You can’t use contributions made to your super by anyone else — employers, government co-contributions, or a spouse — instead, you use the FHSS scheme to save your own contributions.
If you’re eligible for the FHSS scheme, you can use your super account to save up to $15,000 each financial year, up to $50,000 in total across multiple years.
are you facing financial hardship?
You might be eligible to claim some of your super.
Who can apply?
You can apply for one payment of up to $10,000 gross (which is before tax) in a 12-month period if:
- you’ve received eligible Commonwealth Government income support payments for at least 26 continuous weeks
- are currently receiving these payments
- you are unable to meet reasonable and immediate living expenses.
You can apply for any amount if:
- you’ve reached your preservation age plus 39 weeks
- you’ve received eligible Commonwealth Government income support payments for at least 39 cumulative weeks since reaching your preservation age
- you are currently either unemployed, or you are employed for less than 10 hours a week.
do you have compassionate needs?
There are 'compassionate grounds' on which super can be released early. They relate to medical treatment, funeral assistance, and palliative care.
The Australian Taxation Office (ATO) deals with the early release of super on compassionate grounds.
To apply, access the ATO application form, or visit ato.gov.au linked services in myGov. Alternatively call the ATO on 13 10 20.
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Compassionate grounds for medical reasons |
Financial hardship |
Eligibility criteria |
To access your super for medical reasons you’ll need to prove you’re unable to meet the expenses for one or more of the following:
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1. You can apply for up to $10,000 once every 12 months if:
2. You can apply for any amount if:
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Maximum amounts and periods |
The Australian Tax Office determines the amount to be released from your super fund. |
$10,000 once every 12 months if you meet eligibility criteria in point 1 (above). Any amount if you meet eligibility criteria in point 2 (above). |
Who decides |
The Australian Tax Office |
HESTA |
Tax/ Centrelink implications |
The amount is paid and taxed as a lump sum. If you’re aged under 60 the amount will be taxed between 17% and 22%. If you’re aged over 60, the amount will be tax-free. |
The amount is paid and taxed as a lump sum. If you’re aged under 60 the amount will be taxed between 17% and 22%. If you’re aged over 60, the amount will be tax-free. |
Where to apply |
The Australian Tax Office via myGov |
find support services outside of super
with Ask Izzy
We’ve partnered with Infoxchange, the not-for-profit social enterprise behind Ask Izzy: a free service that helps Australians find and access local support services.
If you need some help outside of super, the Ask Izzy website can connect you with nearby support services across Australia. You can search for over 430,000 services close to you, including financial assistance, meals, mental health counselling, shelter, family violence support, and much more.
when can you access your super?
One of the first things to understand about accessing your super are the 'preservation rules' which the government has put in place.
One of these rules is that contributions and investment earnings added to your super after 1 July 1999 are preserved (meaning you can't touch it) until certain conditions are met.
We suggest you seek financial advice before accessing your super. That way, you can get the information you need to make the right financial decisions.
