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.
Taking your super early due to ill health? 7 tips to help
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.
Early release of super due to severe financial hardship
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.
Early release of super on compassionate grounds
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.
Early release of super due to having a balance below $200
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.
Early release of super through DASP (Departing Australia Superannuation Payment)
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.
Early release of super due to temporary incapacity
You can access super benefits early due to temporary incapacity under Australian law, provided that the benefits come from specific sources.
Early release of super due to permanent incapacity
You can access your super benefits early due to permanent incapacity under Australian law, provided you meet the eligibility conditions.
Early release of super due to a terminal medical condition
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.