Hello,
I am wanting to access my super early on grounds of severe financial hardship. I have approximately 15k in my super account, but I only want to access about 5k. My problem is I am currently on a Youth Allowance payment while I study full time, and I was wondering if there was anyway I would be allowed to access?
Thanks in advance :)
Hi @its.izzi,
That'll depend on how long you've been receiving the Youth Allowance payments?
If it's been a continuous 26 week (6 month) period, then you would be eligible for a Q230 letter and application for financial hardship direct from your super fund. 😎
Thank you,
I have been receiving payments for well over 26 weeks. I just wanted to confirm I was eligible as I've been told so many different things!
Thanks for jumping in on this one @BroncosvRabbits !
Hi, just wondering if you had a success with it. I am also on youth allowance study full time, I’m homeless and was considering applying but was told my payment is ineligible.
Hi @Ladpolo,
This sounds like a really tough situation, and I want to help point you in the right direction.
Super can sometimes be released early on compassionate grounds, but homelessness alone may not qualify. You can apply online, but calling 13 10 20 might be best as someone can access your records and better understand your full situation.
If you're struggling with housing, another option is applying under severe financial hardship, though this depends on your super fund's rules. You would need to apply directly through your fund.
You may also be able to get extra support, including Rent Assistance or other housing-related payments from Services Australia. If you need urgent housing, you can call 1800 825 955 for crisis accommodation.
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