1 Comments Super, Managed Funds, Wealth, Insurance, SMSF, Pensions
MelT, unfortunately, there is no provision in superannuation payment splitting that allows you to access your super as you havenâ€™t met a condition of release. However, you may access any unrestricted non-preserved component if there is any.
Superannuation has 3 components â€“ Preserved, restricted non-preserved and unrestricted non-preserved. Check your statements to see if there is any unrestricted non-preserved amount. If so, you may be able to withdraw this amount.
You may also want to check to see if youâ€™re eligible to access your super under compassionate grounds. There are a number of grounds under which you may be able to access your super. Eg, for mortgage repayments to avoid repossession. Check with Dept of Human Services to see if yourâ€™e eligible http://www.humanservices.gov.au/customer/services/centrelink/early-release-of-superannuation
Another alternative is to check if youâ€™re eligible to access your super under financial hardship. To be eligible you must have received income support from Centrelink for at least 26 consecutive weeks and you can only access up to $10,000 pa. Check with your super fund and Centrelink for eligibility criteria.