If you release your super early, it may impact the amount of other payments you get or tax you pay.
If you’re below preservation age you’ll need to pay tax on any money you get from your super.
Please read more on the Australian Taxation Office website about:
You may need to pay your super fund a fee to have your super released early.
Centrelink and child support payments
An early release of super may reduce your Centrelink payments. This includes:
Early release may also impact the amount of child support you receive or pay.
Talk to an independent financial adviser before you apply for early release of super.
You can watch our video about choosing a financial adviser.
Read more about choosing a financial adviser on the MoneySmart website.
You can find a financial counsellor on the Financial Counselling Australia website.