Superannuation is designed to provide for you in retirement, but we know things don’t always go to plan.
You may be able to access your super early on compassionate grounds for unpaid expenses. This is where you have no other means of paying for these expenses. The amount of super you can withdrawal is limited to what you reasonably need to meet the unpaid expense.
What qualifies as compassionate grounds?
Compassionate grounds are instances where you may need money to pay for medical necessities or to meet certain expenses. Click below to learn more about Compassionate Grounds criteria.
Medical treatment/Medical transport
You could be eligible to access your super early if you require funds to pay current and future expenses for medical treatment or transport for yourself or a dependant if:
- The treatment is not readily available to you or your dependant through the public health system and
- The medical treatment is required to:
- Treat a life threatening illness or injury
- Alleviate acute or chronic pain
- Alleviate an acute or chronic mental disturbance.
Funds cannot be released for medical transport unless the necessity of the medical treatment is certified by two medical practitioners in the manner set out above.
Foreclosure of a mortgage on your home
You could be eligible to access your super early if you require funds to make loan payments to prevent the following:
- Foreclosure of a mortgage on your principal place of residence or
- Exercise by the mortgagee of an express, or statutory, power of sale over your principal residence.
Please note that you can only apply once within a 12 month period (beginning on the date of the first payment released on this ground) and the amount cannot exceed the sum of three months’ repayments and/or 12 months’ interest on the outstanding balance of the loan.
Palliative Care in the case of Impending Death/Funeral/Burial expenses
You could be eligible to access your super early if you:
- Need funds to pay for expenses associated with palliative care for yourself or a dependent in the case of impending death or
- To pay for expenses associated with a dependant’s death, funeral or burial.
Accommodating a disability
You could be eligible to access your super early to:
- Pay for modifications to your principal place of residence or vehicle, to accommodate your special needs or the special needs of your dependent as a result of a severe disability.
How do I apply?
You’ll need to complete an application form and provide the required evidence to support your application.
Please contact us on 1300 369 315 to discuss your eligibility and obtain a copy of the form.
If you have already applied for an Early Release of Benefit on Compassionate Grounds through the Australian Taxation Office and your application has been approved, please contact us to discuss (due to the assessment having already been done).
What you’ll need to make an application
- Completed Early Release of Superannuation Benefits on Specified Grounds form
- Certified copy of Proof of Identity (please refer to the following fact sheet.)
- Full and current bank statements for the last three months for all accounts in your name and your partner’s name.
- Copies of evidence to support the application (ie. bills, expenses, quotes for medical treatment).
Have more questions?
Have a look at these FAQs for other answers.
Alternatively, see the factsheet on accessing your super early.