Frequently Asked Questions

As a Lump Sum or Pension Scheme member you can apply for early release of superannuation on compassionate grounds and/or severe financial hardship from the Rollover Account component of your scheme only. Release cannot be granted from your Member Account or Defined Benefit component.

It is important to understand that any release of benefits from your superannuation account will reduce the amount you will receive in retirement. Super SA recommends that you seek financial advice before making any decision about superannuation and in particular early release. 

Once your application and all documentary evidence has been received, you should receive notification of the decision within 15 business days. This assumes that all of the required documentary evidence to support your claim is correct and complete. Please allow a further 10 business days for the benefit to be paid.

Generally, any superannuation benefits that are released prior to reaching your preservation age are subject to tax. The tax payable is based on the components of your benefit and your age. If a benefit is approved, Super SA will release an amount to you net of any tax payable.

You will need to complete an application form and provide the required documentary evidence to support your application. Please contact Super SA to discuss your eligibility and obtain a copy of the application form. You must provide a certified copy of your current identification (eg driver’s licence or current passport) with your application. You will also need to provide a copy of your current bank statement. These applications need to be posted to Super SA or hand delivered to the Super SA Member Contact Centre. We are unable to accept electronic applications at this time.

You will receive a single lump sum payment (net of tax). The amount released to you will depend on the evidence provided and the amount needed to cover the expenses presented in your application. In order to allow for any tax that must be paid, Super SA will need to deduct a higher amount from your super account. You should take this into account when determining the amount you are applying for to be released. 

For example: A member applies for the amount of $9,000 for medical treatment. Tax on this amount (subject to age and the tax components applicable to the member) may mean that $13,235 is released from the superannuation account, comprised of:

1. $4,235 to account for tax and
2. $9,000 payment to the member.*

If you are under preservation age and your application is approved on the grounds of severe financial hardship, you will receive a single lump sum between $1,000 and $10,000 (inclusive of tax). The amount released will depend on the evidence provided. 

In order to allow for tax that must be paid on the payment(s), Super SA will need to deduct a higher amount from your super account, up to a maximum of $10,000 in a 12 month period (inclusive of any tax). 

If you are over preservation age and your application is approved on financial hardship grounds, you can withdraw up to your account balance and any tax will be deducted from the payment. It is important to understand that in all cases, the actual amount that will be approved for release will be determined by Super SA, based on the assessment of your application.

For example: A member applies for the amount of $6,000 for financial hardship. Tax on this amount may mean that $8,824 is released from the superannuation account, comprised of

1. $2,824 to account for tax and
2. $6,000 payment to the member.

The maximum single lump sum amount that a member may withdraw is $10,000 in any 12 month period, so after allowing for tax (of up to $3,200) the maximum the member could receive to alleviate severe financial hardship is $6,800.*

If you already applied directly to the Commonwealth agency (ATO or DHS) for the release of benefits and the Commonwealth approved the release, Super SA may accept this approval and release the funds. You must forward this approval from the ATO to Super SA for processing.

A benefit may not be released for an expense that has already been paid. This includes a debt that has been incurred in order to pay the expense (ie money borrowed from a commercial lender, family or friends).