Accessing your Superannuation early
Corona virus pandemic
The government is temporarily allowing individuals affected by the Coronavirus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. Please seek financial advice before withdrawing any funds.
Note: you only need to satisfy one of the eligibility requirements.
New Zealanders are eligible for the Corona Virus JobKeeper Wage Subsidy and some Centrelink payments. They can also claim the JobSeeker Allowance or Youth Allowance after residing in Australia for 10 years or more.
10 October 2015
Accessing your Superannuation early
There are very limited circumstances when you can access your Super early. These circumstances are mainly related to severe financial hardship or compassionate grounds.
Always seek financial advice before withdrawing money from your Superannuation fund.
Accessing Super due to severe financial hardship
You may be able to withdraw some of your Super if you have received eligible government income support payments continuously for 26 weeks and are unable to meet reasonable and immediate family living expenses.
Please note
- Family Tax Benefit is not an income support payment.
- Non-protected Special Category Visa-holders are eligible for some Centrelink payments after living in Australia continuously for at least 10 years.
Find out more about accessing your Superannuation or KiwiSaver funds early.
Accessing Super on compassionate grounds
Citizens and Permanent Residents of Australia or New Zealand may be allowed to withdraw some of their Superannuation or KiwiSaver on compassionate grounds for unpaid expenses.
Compassionate grounds include:
- medical treatment and medical transport for you or a dependent
- palliative care for you or a dependant
- making a payment on a loan or council rates so you don't lose your home
- modifying your home or vehicle, or buying disability aids for you or a - dependent because of a severe disability
- expenses associated with a death, funeral or burial for a dependent.
Find out more about accessing your Superannuation or KiwiSaver funds on compassionate grounds
Related
Eligibility for the Aged Pension or NZ Superannuation
Who can access their Super early
Transferring funds between an Australian Superfund and KiwiSaver