Q: I am short on funds and looking for a job. Can I apply to use some of my super to pay bills?
I’m sorry to read about your financial situation. If you look at the severe financial hardship section of SuperGuide you will find a lot of helpful information about the rules for accessing super on the grounds of severe financial hardship and on compassionate grounds.
The severe financial hardship rules require you to be on a social security benefit (you apply via your super fund). The ‘compassionate grounds’ rules however generally relate to mortgage stress or medical need. You must apply to Centrelink, and you can find additional information on compassionate grounds on the Centrelink website here.
The following SuperGuide articles are the most relevant:
- Accessing super early: Unemployed and in financial hardship
- Accessing super early: 12 legal reasons to cash your super
- Should I retire? I’m unemployed and have debt
I hope things turn out okay for you.