IMPORTANT: If your early access to super application has been approved by the Australian Taxation Office (ATO), there’s no need to contact us. The ATO will update you through your MyGov inbox.
The ATO take around 1-2 business days to send your application to us, then we’ll process your payment generally within five business days of receiving your application. The money will be in your nominated bank account within a further 2-5 business days.
We recommend you verify that your personal details are correct and up to date in your myGov accounts. If your details don't match, there will be delays in the process as you may need to complete additional security checks which will delay your payment.
Temporary early access to super
For individuals experiencing significant financial hardship, early access to your super of up to $10,000 is available this financial year (2020/21).
While it can be unnerving when markets are volatile, this is only available to those who meet the eligibility requirements below.
To be eligible, you must satisfy one of the following requirements:
- You are unemployed
- You are eligible to receive a jobseeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), or a special benefit or farm household allowance
- On or after 1 January 2020:
- were made redundant
- working hours were reduced by 20% or more
- a sole trader whose business was suspended or has a reduction in turnover of 20% or more.
If you meet the Government’s criteria you can apply at my.gov.au
You can still apply for an early release of your super under the existing severe financial hardship or compassionate grounds along with this new condition of early release.
To view all other grounds for accessing your super early please visit the ATO website. https://www.ato.gov.au/Individuals/Super/Withdrawing-and-using-your-super/Early-access-to-your-super/