I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Early Access to Super on 'Compassionate grounds.

If you are having financial problems, or are suffering from the chronic health issue, you may can access your super benefits early.

If you need medical treatment or medical transportation for medical care, then you might be able to get early access of your superannuation based on 'compassionate grounds.' Should you, or your dependent, suffer serious disability, you can request for early release of super to pay for an adjustment to a home, or car, to allow you or your dependent to live much better lives with the severe impairment.

If you are suffering from financial difficulty you can access your super early in two particular scenarios:
• Serious financial difficulty. You are suffering from 'severe financial hardship' as defined by the super laws. The definition typically requires you to have been getting federal government income assistance for at least 26 weeks. You need to apply directly to your super fund, and not all super funds enable early access for such condition. The other requirements when requesting early access to super due to the extreme financial difficulty is explained in the www.australiansuperfinder.com.au knowledge base.
• Compassionate grounds. If you are suffering from home loan stress, then you may have the ability to apply to the Department of Person Solutions for early access to your super benefits based upon compassionate grounds. The early release of superannuation benefits on 'compassionate grounds' can also matter for super fund members having trouble covering health-related and disability-related expenses, and even the funeral expenses of a member can be covered.

What is the meaning 'Compassionate Grounds'?

The main rule is that you will only access your super benefits once you are already in the preservation age (55 to those who are born before July 1960, and a minimum of 56 years or as much as 60 years to those who have been born on or later than July 1 1960), and then you retire. Retirement, during or later than the conservation age, is the common condition for release.

The other condition of release is based on 'compassionate grounds' where situations include needing aid with expenditures that cover particularly:
• home mortgage help
• medical treatment
• medical transportation
• Modifications to the house and automobile where the fund member or his dependant suffers from a serious impairment.
• Burial or Funeral and other costs connected to the death of a dependant, that is, the departed individual was economical, domestically or personally reliant on your palliative care for the terminal condition (in the case the super member is dying or going through impending death) suffered by you or one of your dependants.

If the subject is a bit complicated to you, and you feel you need more information about it, feel free to read more of our articles at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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