Severe Financial Hardship

Severe Financial Hardship

Your superannuation is designed to provide for you in retirement, but we know times can get tough.

If you find yourself in severe financial hardship, you may be eligible to access your super early.

What qualifies as severe financial hardship?

If you haven’t reached your Commonwealth Government Preservation age -

  1. You need to be in receipt of Government income support payments for a continuous period of at least 26 weeks; and
  2. You are unable to meet reasonable and immediate family expenses.

OR, if you have reached your Commonwealth Government Preservation age plus 39 weeks -
  1. You need to be in receipt of Government income support payments for a continuous period of 39 weeks after you reached your preservation age; and
  2. You are not gainfully employed on a full-time or part-time basis.
  • You’ll need to complete an application form, and provide the required evidence to support your application. And, you can only apply once within a 12 month calendar period.

    Please contact Super SA on 1300 369 315 to discuss your eligibility and obtain a copy of the Early Release of Superannuation Benefits on Specified Grounds form.

    If the application is approved due to severe financial hardship, you will receive a single lump sum payment (gross of tax) of between $1,000 and $10,000 if you are under your Commonwealth Government Preservation age.

    If you are over your Commonwealth Government Preservation age, there are no limits on the amount you can request.
    1. Completed Super SA’s Early Release of Superannuation Benefits on Specified Grounds form
    2. Certified copy of Proof of Identity (refer to Proof of identify fact sheet)
    3. Written evidence from Centrelink that you are in receipt of Commonwealth Government income support payments

    a) Attach the original copy of the Q230 or Q251 Centrelink letter which must be dated no more than 21 days before the date you lodge your application
    b) Contact Super SA to confirm which Commonwealth Income Support Payments are accepted under the Severe Financial Hardship definition

    If you are under the preservation age you will also be required to provide:

    1. Copies of evidence to support the application* (ie. utilities, outstanding bills and expenses in your name).
    2. Full and current bank statements for the last three months for all accounts in your name and your partner’s name*


    Have more questions? Have a look at these FAQs for answers.