Generally, most of your super will be preserved. This means that you’re only able to access it when you've reached:
You can also access your preserved super if you meet a condition for early release.
If some of your super is unrestricted non-preserved, you can access this at any time. You’ll be able to see if any of your super is unrestricted non-preserved by logging into your account or checking your most recent statement.
| Date of birth | Preservation age |
|---|---|
| Before 1 July 1960 | 55 |
| 1 July 1960 - 30 June 1961 | 56 |
| 1 July 1961 - 30 June 1962 | 57 |
| 1 July 1962 - 30 June 1963 | 58 |
| 1 July 1963 - 30 June 1964 | 59 |
| 1 July 1964 or after | 60 |
In certain situations you may be allowed to withdraw your preserved super early. These include:
For more information and other circumstances, see early access to your super on the ATO website.
If you are in severe financial hardship, you can apply to us for the early release of some of your preserved super. You will need to meet the following conditions:
| Your age | Conditions you must meet | How much you can apply to withdraw | |
|---|---|---|---|
| A | Under preservation age plus 39 weeks | 1. You have been on an eligible Commonwealth Government income support payment* for a continuous period of 26 weeks, and 2. You are unable to meet reasonable and immediate family living expenses. |
You can withdraw a minimum of $1,000 and a maximum of $10,000. You can only make one withdrawal from your Cbus Super account in any 12-month period. |
| B | Preservation age and 39 weeks or over | 1. You have been on an eligible Commonwealth Government income support payment for a cumulative period of 39 weeks after you have reached your preservation age, and 2. You are not gainfully employed on a full or part-time basis on the date of the application for your benefit. |
There are no restrictions on how much you can withdraw. |
As part of your application, you’ll need to confirm you're receiving eligible Commonwealth Government income support by providing us authority to verify this directly with Centrelink. Eligible Commonwealth Government income support payment includes an income support supplement, service pension, social security benefit (excluding austudy or a youth allowance) or a social security pension (this is not an exhaustive list).
If we are unable to verify you are receiving an eligible Commonwealth Government income support payment, we can’t assess your claim.
For more information or to apply, use our Financial hardship benefit payment application form.
In limited circumstances, you may be able to access your super on compassionate grounds. You’ll need to apply to the Australian Taxation Office (ATO) to access your super to help pay for:
You can find more information on eligibility requirements, eligible expenses, and how to apply on the ATO website.
If you were a temporary resident, you can claim your super when you depart Australia permanently.
This payment is called the Departing Australia Superannuation Payment (DASP). It needs to be claimed within six months of your departure, and the expiry or cancellation of your temporary visa.
You’re not eligible to request a DASP if you:
You can find more information on DASP on the ATO’s website.
Generally, these tax rates will apply:
| Component | Tax rate for non-working holiday maker visa holders | Tax rate for working holiday maker visa holders |
|---|---|---|
| Tax-free component | Nil | Nil |
| Taxable component – taxed element | 35% | 65% |
| Taxable component – untaxed element | 45% | 65% |
You can use the ATO’s DASP online application system to apply.
If we still have your super, you can also complete a Application for department Australia superannuation form and return it to us. Otherwise, if the ATO have your super, you complete the Application for payment of ATO-held superannuation money form and return it to the ATO directly.
If you have a terminal medical condition that 2 medical practitioners have certified is likely to result in your death within 24 months of the date of certification, you can apply access all of your super. If approved, any withdrawals you make are tax-free.
Contact us on 1300 722 152 and we can help you make a terminal illness claim. You can find some more information on the claim process here.
We may be able to release your super if you’re unlikely, because of ill health, to engage in gainful employment that you are reasonably qualified for by education, training, or experience.
Contact us on 1300 722 152 and we can help you make a claim. You might also have total and permanent disablement (TPD) insurance cover that you can claim. You can find some more information on the claim process here.
You can read more about accessing your super by clicking on the links below.
You can make two types of nomination:
You choose the people who receive your super benefits*. This ensures the balance of your super account, plus any insurance benefit, is paid to the eligible person.
You may nominate beneficiaries, however Cbus will follow a legal process to make the final decision on who gets your super benefits.
*Binding nominations must be renewed every three years.
You can read more about beneficiaries by clicking on the links below.
Going through a separation or divorce can be a stressful time for you and your family. Our fact sheet will help you understand how super can be split when a relationship breaks down. It will also guide you on what you need to do.
Read our fact sheet
8.30am to 6pm Monday to Friday (AEDT/AEST)
Email: advice@cbussuper.com.au
Or use our online form to request a call from Advice Services.
Read our Financial Services Guide (PDF)
