Super is there to support you during retirement, but there may be reasons you need to access it sooner.
Your superannuation provides you with an income when you are no longer working, so there are strict rules around when you can first access your super. But there are special exceptions where you may be able to withdraw your super earlier, provided you meet certain eligibility requirements.
When you can withdraw your super
Super is a way of saving for your retirement, and most people won’t be able to access and withdraw their super until they meet certain conditions.
Severe financial hardship
You may be eligible to use your super if you’re facing financial difficulties
If you receive government income support payments and are having trouble covering your expenses, early access to your super may be an option for you.
If you’re experiencing personal difficulties, you could be eligible to access your super to cover unpaid expenses on compassionate grounds.
We're here to help
Whether you’re about to retire or want to access your super early, there are a number of factors to consider first – such as how your withdrawal may be taxed, and any impact on the insurance cover you may have through your super. Give us a call and we’ll talk you through it, or we can refer you to one of our financial planners if you need further support.1
1 Financial planning services are provided by our financial planning business, Aware Financial Services Australia Limited, ABN 86 003 742 756 AFSL No. 238430.