Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.
Retiring due to ill health is much more common than you might think, and it can severely impact your super. We look at some tips that can help if the unexpected happens.
Accessing super early due to severe financial hardship is possible under Australian law, provided that you meet strict eligibility conditions and your super fund allows it.
Learn the rules for accessing your super early on compassionate grounds, including for paying your mortgage if you are at risk of losing your home.
You can access your super benefits early under Australian law if you have a fund balance of less than $200 and your employment has been terminated – whether you lose your job or you quit it.
The Departing Australia superannuation payment (DASP) is available to departed temporary residents who worked and earned super in Australia. It is not available to permanent Australian residents, nor for Australian and New Zealand citizens.
You can access super benefits early due to temporary incapacity under Australian law, provided that the benefits come from specific sources.
You can access your super benefits early due to permanent incapacity under Australian law, provided you meet the eligibility conditions.
Australian super law allows for the full early release of your super if you’re diagnosed with a terminal medical condition, provided your super fund allows it.