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Eligibility for Covid-19 early release of super

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Replies 1

Hi,

I am posting as i am unsure if i meet the 20% reduction in hours requirement.

I have been working full time and recently have changed to part time, reducing my hours by 40%.

I am now currently facing financial difficulties, but what is making me ask is that this change in hours was not forced on me. It is in order for me to complete an internship as required by my studies, which I need to complete to stay in my job.

I cannot return to that role in a full time capacity at current due to my circumstances and wanted to know if I would be eligible for the covid 19 early release of super as my drop in hours have exceeded the 20 percent eligibility requirement

Thanks,
Cal
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @Cal,

 

The Early Release of Superannuation application is a self assessment process and you will have to determine whether you are eligible to apply. We are not make this decision for you, however the first eligibility criteria states  that you require the early release of super to help manage the adverse economic effects of COVID-19.

 

You have advised that your hours have dropped by more then 20% due to you requirement to undertake an internship. However, you will need to reflect on whether your current financial hardship is due to the adverse effects of COVID-19 or your choice to complete your internship.

 

Hope this helps with your self assessment,

 

JacquelineATO

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @Cal,

 

The Early Release of Superannuation application is a self assessment process and you will have to determine whether you are eligible to apply. We are not make this decision for you, however the first eligibility criteria states  that you require the early release of super to help manage the adverse economic effects of COVID-19.

 

You have advised that your hours have dropped by more then 20% due to you requirement to undertake an internship. However, you will need to reflect on whether your current financial hardship is due to the adverse effects of COVID-19 or your choice to complete your internship.

 

Hope this helps with your self assessment,

 

JacquelineATO