Early access to your superannuation

The Government has extended the superannuation early access scheme until 31 December 2020

On 22 March 2020, the Australian Government announced temporary changes to superannuation withdrawal rules for individuals. If you are suffering financial hardship because of the COVID-19 crisis, you could withdraw up to $10,000 of your superannuation before 1 July 2020 and another $10,000 between 1 July 2020 and 24 September 2020.

On 23 July 2020, the Government announced the September deadline has been extended to 31 December 2020.

• If you are eligible, you can apply via the MyGov website
• To be eligible, you must meet certain criteria that are explained on Australian Taxation Office website
• Read the Treasury website's information about accessing superannuation
• Taking money out of your super may affect insurance such as income protection insurance and life insurance
• You should consider seeking financial advice before using the early access scheme

Additional information for our members whose super fund is Cbus

If your super fund is Cbus, you can find their team's contact details in 'Members-only resources', which you can access by clicking on the Coronavirus tab after you log in.