We are in an enormous amount of financial difficulty & so I have filled out a form to access $10,000 of super- not ideal but necessary. Can they say no? Is anybody familiar with this?


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Posted by sanjipanj, 7th May 2014


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  • If you can prove financial hardship and have filled in the relevant forms,mothers shouldn’t be a problem. We have accessed our before due to financial hardship, hubby lost his job. Good luck with it, hope they help you too



  • No answer for you, I just wanted to say that I hope it all works out for you.



  • I think it varies with what type of fund you have, Would a personal loan be more practical?



  • My uncle has had to do this a couple of times, he just proved that he needed it and got it



  • there are a lot of different variables which could change your case depending on your fund



  • Under extreme financial hardship clause you need to have been recording centerlink payments for 6mths before they are allowed to release it. For mortgages, you need to already have a foreclosure notice. This is just general information and may differ slightly for your fund. But these are SIS rules.



  • some make it very hard for you, some do make it a bit easier



  • you need to fill out a lot of paper work to get your hands on your supa



  • Not all funds permit early access for financial hardship or compassionate grounds. If they do it will mostly likely be taxed, and pretty heavily too (around 20%) I think. Both have criteria to be met and can be refused. there are appeal avenues for decisions, such as those made by Department of Human Services. There is a fair bit of information on their website.



  • It is beyond me why no one is allowed to access their super funds when they really need it. How I wished I could have had access to mine when I wanted to buy my unit…
    Speak to your super fund.


  • Yes I am familiar with this. It does not depend on your policy as the early release of super comes under the SIS regulations, however your superfund really is the place to have your question answered and you are probably very anxious about the outcome.

    The form you completed should have had the eligibility criteria for early release under financial hardship on it so you would probably have a fair idea if you’ve met the criteria or not.

    I hope this all works out for you.



  • Best to check with your accountant or a financial adviser, may also be worth to check with Tax Department what fee’s you may be liable for. Every case will be different. I can access my fund , but as long as I retire.



  • read the fine print it helps alot



  • my hubby accessed a small amount of his super recently for medical reasons but for financial hardship you have to be on a government payment ie centrelink for 12 months as part of the criteria..if you claim is rejected you can apply for a debt agreement, there are companies that do this for you they come to your home and you show all your debts then they work out how much you can afford to pay each week they then negotiate with your debtors and for you to pay this amount you can afford with no added interest



  • if you are applying under the grounds of financial hardship or compassionate grounds, as long as you show the debts, (I believe you need the bills not to be more than 3 months old) then there should not be an issue with getting the money, please be aware it is heavily taxed as well, but you should be able to get that back at tax time.


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