Financial hardship Compassionate grounds Temporary residents departing Australia Nominating beneficiaries. Date of birth Preservation age Before 1 July 55 1 July - 30 June 56 1 July - 30 June 57 1 July - 30 June 58 1 July - 30 June 59 1 July or after 60 Disclaimer All super contributions and all investment earnings made after 1 July are preserved in super.
Can I access my super early? Severe financial hardship Compassionate grounds Permanent departure from Australia Terminal medical condition Permanent incapacity For more information and other circumstances, see early access to your super on the ATO website. Severe financial hardship Members in severe financial hardship can apply to Cbus for the early release of all or part of their super. You may be able to withdraw some of your superannuation if: Your age Conditions you must meet A Under preservation age 1.
You are unable to meet reasonable and immediate family living expenses. B Preservation age and 39 weeks or over 1. You have been on an eligible Commonwealth Government income support payment for a cumulative period of 39 weeks after you have reached your preservation age, and 2.
Compassionate grounds In limited circumstances, you may be able to access your super on compassionate grounds. You can contact us to confirm if an interaction is genuine. If you are concerned that someone has accessed your super without your permission, you should check:. If you receive a text message or email stating that your myGov details have been changed, or that you have applied for early release of super when you have not, do not click on any links, and consider whether your identity has been compromised.
Show download pdf controls. Show print controls. Early access to your super You can only have early access to your super in very limited circumstances. Compassionate grounds include needing money to pay for: medical treatment and medical transport for you or your dependant palliative care for you or your dependant making a payment on a home loan or council rates so you don't lose your home accommodating a disability for you or your dependant expenses associated with the death, funeral or burial of your dependant.
See also: Early access on compassionate grounds Access due to severe financial hardship Severe financial hardship is not administered by the ATO. You may be able to withdraw some of your super if you meet both these conditions: You have received eligible government income support payments continuously for 26 weeks. You are not able to meet reasonable and immediate family living expenses. If you withdraw super due to severe financial hardship it is taxed as a super lump sum.
You can only make one withdrawal in any month period. See also: How to apply — early release of superannuation External Link — Services Australia website How tax applies to your super Access due to a terminal medical condition You may be able to access your super if you have a terminal medical condition.
A terminal medical condition exists if all these conditions are met: Two registered medical practitioners have certified, jointly or separately, that you suffer from an illness or injury that is likely to result in death within 24 months of the date of signing the certificate.
At least one of the registered medical practitioners is a specialist practising in an area related to your illness or injury.
The month certification period has not ended. This can only be done once in a month period. In this case, there is no limit on the amount you can withdraw. These applications are done as part of a Departing Australia Superannuation Payment , but the government requires you to meet specific criteria and provide documentation to withdraw super in this case.
For more information, speak to your adviser about what might be right for you. For a few more ideas around what you might do when you take your super, check out our page - types of retirement pensions explained , which also looks at considerations around taking your super as a lump sum. To learn more and book in a chat, visit our info page. Taxation issues are complex.
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