What should I do first if I want to apply for early release of super?

Make sure you meet the eligibility criteria, and speak to your super fund for advice on accessing your super early.

How can I apply for an early release of super on compassionate grounds?

You can apply for early access to super with the ATO online via your myGov account.

How do I apply for early release of super if I'm in a self-managed super fund (SMSF)?

Applications for early release on compassionate grounds are made to the ATO, while applications for early release in other allowable circumstances should be made to the trustee of the SMSF.

Will early release of super affect my superannuation life insurance?

Yes, your insurance cover may be affected if you apply for the early release of super. Contact your super fund for details of how cover will be impacted before deciding whether you want to access your super early.

Can I get early release of superannuation for IIVF?

Yes, it is possible to get early access to your super for IVF, however it may be difficult to do so. This may be granted under the medical grounds of fixing acute or chronic mental illness. You need to apply to the ATO for access to your super under compassionate grounds and meet all other eligibility criteria.

Can I access my super early to buy a home?

If you're a first home buyer, you may be eligible for the First Home Super Saver Scheme which allows you to access a small portion of your super. Read more about this scheme here.

Can I still withdraw $10,000 from my super?

No, you cannot withdraw $10,000 from your super unless you meet the limited circumstances for an early release payment. During COVID the government allowed Australians to access a one-off $10,000 withdrawal from their super, but this policy has ended.

Can I access my super to pay off debt?

Generally no, you can't access super to pay off debt. However, in some situations if you can prove you are in severe financial hardship and you have no other way to pay off the debt the ATO may consider allowing you to access your super under compassionate grounds. This is typically only for severe mortgage debt if you're at risk of losing your home.