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

Reached Preservation Age with Financial Difficulty

You must apply to your superannuation fund to claim early access to your super benefits by severe financial hardship.

Always remember that even if you have met the conditions for early access to your super benefits due to 'extreme financial hardship' you may belong to a super fund that does not allow access to these premises. As an initial step talk to your super fund regarding the matter and whether or not they allow benefit withdrawals for financial hardship.

Meeting Specific Conditions

You have to meet certain conditions for early access to super benefits based upon 'severe financial difficulty', which are described in a different regulation of the superannuation laws (Sub-regulation 6.01 (5) and (5A) of the Superannuation Industry (Guidance) Laws 1994).

Additionally, you are thought to be in 'serious financial difficulty' under the super laws if you please the following conditions: • You've reached the preservation age (55 for those who are born before July 1960, and 56 years for those who are born on or after 1 July 1960). For info on your preservation age see the information found on our site's knowledge base at www.australiansuperfinder.com.au
• You have received Commonwealth income support for a certain duration of 39 weeks after youíve reached the preservation age - this has been verified by written proof provided by at least one Commonwealth department or firm responsible for the income assistance payments.
• If you are working and you are working less than 10 hours in a week. More specifically, during the time of the early access application, you were not fully utilized on a full-time or part-time basis. Part-time work is defined to suggest at least 10 hours a week, and less than 30 hours every week.

If your super fund permits early access by extreme financial hardship while satisfying the required age, occupation, and earnings support requirements, then you can access your whole superannuation benefit.

Accessing your super benefit due to financial hardship can be quite troublesome at times if you donít have someone to advice you on the matter. The requirements may require more clarity than what the instructions have been telling us. If you want to know more about this subject, consult with us at www.australiansuperfinder.com.au by calling 1300 252 167

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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