When can I get my super?

May 9, 2018 | News

Anangu ask this question a lot.  Below are the answers!  If you don’t have one of these reasons to get your super money out, MoneyMob Talkabout cannot help you.

  1. You have reached “preservation age”.  This means, the age at law when you are old enough to get your money out.

  2. You are in “severe financial hardship” (you are having a really hard time with paying important bills or immediate living costs).  This does not mean you need money to buy a car or just to go shopping.  You must have been unemployed for 26 weeks or more.  You can only get $10,000 in one year, less tax.

  3. You have a “terminal illness” (you are really sick and going to die).  Your doctor must write letters about this.

  4. You have less than $200 in your super account.

  5. You need to withdraw super money on “compassionate grounds”.

Remember, most times when you take your super out early, you will lose a lot of money in tax.

Money Mob recently partnered with the Central Desert Regional Council (CDRC) to deliver information sessions to aged care residents in Atitjere, Ti Tree, Wilora, Willowra, Laramba, Yuelamu and Lajamanu.

Alongside the residents, staff and carers had a chance to learn skills in financial literacy, saving goals, debt, financial abuse, humbug and making informed decisions when spending.

We provide practical financial literacy training services for individuals to gain confidence and competence in essential financial life skills.

Interested in learning more about our training services?
Get in touch with our friendly service providers for more information.

Subscribe to our Newsletter

MoneyMob Talkabout
Project Wrap Up in Adelaide

Project Wrap Up in Adelaide

by | Jun 30, 2023 |

The Pawa Atunmankunytjaku team headed to Adelaide on Tuesday 27 June to present on everything we had learnt over the past three years. We were lucky to be joined by Dora, Denise and Irene who had made their own way from Yalata community to Adelaide. We attended a...