accessing your super early

Sometimes, life is hard. Really hard. And it’s in these times that you need support the most.
Your super is locked away until you reach preservation age. However, if you’re affected by debt or have compassionate needs, you may be able to access some of your super early.
When you might be able to access your super early depends on being able to meet specific criteria. There are also restrictions on what you’re allowed to use your super money for once you’ve accessed it.
Access to your super due to financial hardship
If you’re currently receiving an eligible income support payment, have received it for 26 continuous weeks and are struggling to meet reasonable and immediate family living expenses, you may be able to withdraw some of your super.
Reasonable and immediate family living expenses may include:
  • housing or accommodation costs
  • outstanding bills
  • food expenses.
If this sounds like you, contact us. The maximum amount you can access is $10,000, and you can only make one claim in a 12-month period.
Access to your super on compassionate grounds
The process of accessing your super on compassionate grounds is handled by the Australian Taxation Office (ATO). For the ATO to agree to release the funds from your super, you’ll need to prove you’re unable to meet the expenses for one or more of the following:
  • medical treatment and medical transport for you or a dependant
  • palliative care for you or a dependant
  • making a payment on a loan or council rates so you don't lose your home
  • modifying your home or vehicle, or buying disability aids for you or a dependant because of a severe disability
  • expenses associated with a death, funeral or burial for a dependant.
Find out more about accessing your super early here.

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Need help to decide what your next step should be? Our friendly, qualified advisers are right here to talk you through it. Give us a call on 1800 813 327.

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why join us?

Super is one of the most important investments you’ll ever make. And here at HESTA, it’s our role to help you make the most of it.