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Early Super Access

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Hi, I am currently working full time and my employer is paying me the $750 Jobkeeper and topping up the rest. My hours have generally stayed the same, up and down. With that being said, my partner who is 33 weeks pregnant and hasn’t worked since COVID started and has had no form of income due to the situation. Our wage has obviously halved in the past 4-5 months and the pressure is on even more so since the baby is only a few weeks away. Does that put me in any bracket of eligibility to access my super earlier?

Thanks
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Most helpful response

Devotee

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Hi @Potsy101 

 

There are two possible answers to this because the COVID19 early release measure applies to each individual based on their own circumstances and not the circumstances of anyone else or their family.

 

1/ You applying for COVID19 early release.

 

If you personally wish to access your super unfortunatley you may not be able to because you do not meet the eligibility criteria for COVID-19-early-release-of-super .    

 

However under your individual circumstances there are other avenues for you to explore such as applying for early release of super based on:

1/ Compassionate-grounds

2/ Financial_hardship

 

 

2/ Your wife applying for early release

 

If your wife is considering applying for early release then she may be eligible for early release from her super fund.  By the sounds she may be unemployed and if this is the case she will qualify, but if she is on upaid leave then it depends on whether her working hours were reduced on or after 1 Jan 2020.  So have a close look at the COVID19 early release criteria and you should be able to work out if she is eligible or not.

 

Just keep in mind that she as a seperate individual can also consider applying for early release of super based on:

1/ Compassionate-grounds

2/ Financial_hardship

 

All the best with this ... 

 

 

The eligibility criteria are - 

 

Eligibility

To be eligible, a citizen or permanent resident of Australia and New Zealand must require the COVID-19 early release of super to assist them to deal with the adverse economic effects of COVID-19.

 

In addition, one of the following circumstances must apply:

  • you are unemployed
  • you are eligible to receive one of the following
    • JobSeeker Payment
    • Youth Allowance for job seekers (unless you are undertaking full-time study or are a new apprentice)
    • Parenting Payment (which includes the single and partnered payments)
    • Special Benefit
    • Farm Household Allowance
     
  • on or after 1 January 2020 either
    • you were made redundant
    • your working hours were reduced by 20% or more (including to zero)
    • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more (partners in a partnership are not eligible unless the partner satisfies any other of the eligibility).
3 REPLIES 3
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Devotee

Replies 0

@RachATO  @NateATO 

 

You may wish to review your answer because it appears to be wrong ... "jobkeeper" is not an eligibility criteria for early release of super ... cheers everyone

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Most helpful response

Devotee

Replies 0

Hi @Potsy101 

 

There are two possible answers to this because the COVID19 early release measure applies to each individual based on their own circumstances and not the circumstances of anyone else or their family.

 

1/ You applying for COVID19 early release.

 

If you personally wish to access your super unfortunatley you may not be able to because you do not meet the eligibility criteria for COVID-19-early-release-of-super .    

 

However under your individual circumstances there are other avenues for you to explore such as applying for early release of super based on:

1/ Compassionate-grounds

2/ Financial_hardship

 

 

2/ Your wife applying for early release

 

If your wife is considering applying for early release then she may be eligible for early release from her super fund.  By the sounds she may be unemployed and if this is the case she will qualify, but if she is on upaid leave then it depends on whether her working hours were reduced on or after 1 Jan 2020.  So have a close look at the COVID19 early release criteria and you should be able to work out if she is eligible or not.

 

Just keep in mind that she as a seperate individual can also consider applying for early release of super based on:

1/ Compassionate-grounds

2/ Financial_hardship

 

All the best with this ... 

 

 

The eligibility criteria are - 

 

Eligibility

To be eligible, a citizen or permanent resident of Australia and New Zealand must require the COVID-19 early release of super to assist them to deal with the adverse economic effects of COVID-19.

 

In addition, one of the following circumstances must apply:

  • you are unemployed
  • you are eligible to receive one of the following
    • JobSeeker Payment
    • Youth Allowance for job seekers (unless you are undertaking full-time study or are a new apprentice)
    • Parenting Payment (which includes the single and partnered payments)
    • Special Benefit
    • Farm Household Allowance
     
  • on or after 1 January 2020 either
    • you were made redundant
    • your working hours were reduced by 20% or more (including to zero)
    • you were a sole trader and your business was suspended or there was a reduction in turnover of 20% or more (partners in a partnership are not eligible unless the partner satisfies any other of the eligibility).
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Community Manager

Replies 0

Thanks @dirk, we got that one wrong. We've removed the post now to avoid confusion.

 

@SP20 please see @dirk's post Smiley Happy