3 Comments Super, Managed Funds, Wealth, Insurance, SMSF, Pensions
To gain access to your superannuation you will need to meet a 'condition of release' which could be the following
- Being over the age of 65 years
- Being over 55 years and retiring from the work force
- Financial hardship.
- Account balance less than $200.
The problem you have is that if you access you superannuation now and come back to Australia to live then you would have no retirement saving. The government is trying to prevent this from happening.
Regarding co-payment (co- contribution)
You are currently not eligible because you do not work in Australia.
Well I wasn't really after gaining access to it but if the fees are going to continue eating away at it then I would rather have my money back.
For $500 it's not enough to get excited about if I come back to Oz to retire on really.
I could make contributions to beef up the fund but I think my money is probably going to get a better return elsewhere to be honest and it will not be locked up in an account I may never get to see.
So basically I am kissing goodbye to my money.
JayB 2015-09-22 21:07:36