Grounds for early release of superannuation

You normally can’t use your super until you reach preservation age. In rare cases your super fund may let you have some of the money early.

You can apply for early release of super for the following reasons.

You can apply if You must
You’re in severe financial hardship

You must:

  • be unable to pay reasonable and immediate family living costs
  • get an income support payment
  • have been on this payment for at least 26 weeks in a row
  • not get ABSTUDY, Austudy or Youth Allowance

There are different rules if you’re over preservation age and haven’t retired. You must:

  • still be out of retirement - this might mean you’re looking for work, studying or working part time or full time
  • have reached preservation age plus 39 weeks
  • not get ABSTUDY, Austudy or Youth Allowance
  • have been getting an income support payment

You must also have been on an income support payment for at least 39 weeks in total since you reached preservation age. You could still be getting the payment, or you may no longer be getting it.

If you get ABSTUDY, Austudy or Youth Allowance you can’t apply for early release of superannuation, even if you’re in severe financial hardship. 

If you’re in severe financial hardship but don’t meet these criteria, contact us to see how we can help.
You have a terminal illness You must have a terminal illness.
You are a temporary resident

You must:

  • be a temporary resident
  • about to leave Australia, and
  • not planning to live here again
You have less than $200 in superannuation

You must have less than $200 in your superannuation fund.

There are compassionate grounds

You must be able to prove that you have compassionate grounds for needing early release of superannuation.

Read more on the Australian Taxation Office website.
You’re eligible for the First Home Super Saver Scheme

You must be withdrawing voluntary contributions made to superannuation after 1 July 2017 for a first home. You can apply after 1 July 2018.

Read more about First Home Super Saver Scheme on the Australian Taxation Office website.

Page last updated: 1 July 2018