Supporting our members through times of crisis

If you’ve been affected by Cyclone Alfred in Queensland and New South Wales, you may be wondering if you can withdraw some of your super early to pay for expenses during this crisis.

The early release of your super is only possible in very specific circumstances. More information about this is below, but there are also other ways we can help you.

We also suggest you consider whether you qualify for financial relief from your state government or the Australian Federal government.

Supporting First Super members in QLD and NSW

You can also view our full list of Coordinators or speak to our Member Services Team based in Melbourne on 1300 360 988.

Lost your identifying documents?

You will need identity documents and information about your financial situation for early release of super requests and recovery payments (more on these topics below).

If these have been destroyed or you can’t return to your home to retrieve them due to the flooding, contact our Coordinators to find out your options about what to do next.

Early release of super – do you qualify?

In normal circumstances, you can’t access your superannuation until you retire. But in special circumstances it may be possible to withdraw part of your super early on compassionate grounds or due to severe financial hardship.

The reality is most members won’t be eligible for early release, as the rules set by the government are very strict. Learn more below, and if you think you may be eligible follow the ‘Next steps’ listed or contact us for help.

Early release on compassionate grounds  

This is when you need money (for yourself or for a dependant) to pay for things such as medical treatment, funeral expenses, or changes to your home to accommodate a disability.

• Next Steps: Visit the Australian Taxation Office (ATO) webpage to learn more. It’s important to note that the ATO, not First Super, is responsible for assessing compassionate grounds applications. We recommend speaking to the ATO directly. 

Early release due to severe financial hardship

This is where you:

• cannot meet reasonable and immediate living expenses, AND
• have been receiving government income support payments continuously for 26 weeks (you may need to prove this with a confirmation letter from Services Australia).

Financial hardship payments are limited to between $1,000 and $10,000 in a 12-month period, and you’ll be taxed on the withdrawal if you are under age 60.

• Next Steps: Read more about accessing your super early.

Be alert to scams

Unfortunately, fraudsters prey on victims of disaster, so be wary of anyone who offers to get your super released for a fee. There is no charge for legal withdrawals of super – this is a scam.

You should also be careful of any unsolicited calls or emails claiming to be from organisations you trust (like First Super) asking for personal information. If you have any doubts, contact us yourself on 1300 360 988 or email us.

Find out more

There are several other situations where you may be able to access your super early, see accessing your super early.

We’re here to help.

For more information contact our Member Services Team on 1300 360 988 or email us.