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Post by aussieinusa on Sept 7, 2013 20:18:55 GMT 7
I'm applying for early release of super on grounds of severe financial hardship, to try to get me out of a bit of a bind I'm in right now. Has anyone else on here had money released? Any tips?
Taking the whole amount out for Total and Permanent Disability would be good, but I have no idea if I'd qualify. Did anyone on here qualify for it, and if so, roughly how disabled did you have to be to get it?
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Post by Banjo on Sept 7, 2013 22:04:27 GMT 7
Once I was on the DSP I got my super paid out as soon as I asked for it, paid a bit of tax and was refunded the next year.
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Post by tamarind65 on Sept 8, 2013 12:36:55 GMT 7
Been on DSP since 2002, applied for TPD in 2003 and the claim was rejected after long battle with the insurance company, then I applied to Superannuation Complaints Tribunal and won the case and got the whole TPD amount.
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Post by fedup on Sept 9, 2013 0:42:04 GMT 7
One factor is age,if you are over 55 you should be able to claim it all.
TPD hmm,depends on your impairment and your super policy.
Had two minimal super payouts,and two TPD payouts last year,for this you will need a lawyer,if they think you will win they will take on your case.
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Post by Banjo on Sept 9, 2013 6:47:00 GMT 7
Some members have successfully claimed their super before the age of 55, as I did, and tried to use this as proof of a "severe" disability when applying for the UP... without success to the best of my knowledge.
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Post by wbmania72 on Sept 9, 2013 7:08:03 GMT 7
i think you can claim your super for 2 ground excuse. 1.financial hard-ship.(maybe they release some of the fund as if they think about your future more than you do!!!) 2.leaving the country for good.(better chance claiming all of it ) i claimed my supper in 2004 on the 2.option without a prob at the age of my 30's.
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Post by anotherdsp on Sept 9, 2013 9:03:02 GMT 7
to aussienusa,i think you can claim finacial hardship after being on a pension for 6 months??
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Post by aussieinusa on Sept 10, 2013 18:34:29 GMT 7
One factor is age,if you are over 55 you should be able to claim it all. TPD hmm,depends on your impairment and your super policy. I'm in my 30s, so screwed on that count. Although my medical prognosis means living past 65 is pretty unlikely (maybe 1 in 10 chance, at best)... do they take that into account? I've got about as long to live as the average 65 year old these days, I guess. Do you know roughly what the usual impairment criteria are? I've read the bureaucrat-ese a bunch of times, but what that translates to in terms of actual physical/other impairment, I still have no idea!
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Post by aussieinusa on Sept 10, 2013 18:39:50 GMT 7
to aussienusa,i think you can claim finacial hardship after being on a pension for 6 months?? I put in a financial hardship claim (hopefully for the whole $10k / $8k after tax) a couple of days ago... fingers crossed. 2.leaving the country for good.(better chance claiming all of it ) i claimed my supper in 2004 on the 2.option without a prob at the age of my 30's. Wow, good to know. The way my super puts it on their web site, that's only available to people from overseas who worked here for a while. Will have to see if they offer it for Aussies leaving the country permanently, after all... doesn't surprise me that they don't advertise it if they do. What did you have to do to prove you were leaving permanently? Did you have to have a permanent residency visa for another country, or anything like that?
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Post by fedup on Sept 10, 2013 22:57:32 GMT 7
Leaving the country permanently if you are an Aussie could be a bit complicated.
TPD also as stated,depends what your disability is,how you rate on the tables,your doctors reports supporting any claim.other medical reports to back up.severity of impairment,impairment itself.or injury,and your super funds rules.
The tables etc are on this site
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Post by immiadvice on Sept 11, 2013 8:22:21 GMT 7
I requested a release of super last year for medical reasons. Only requested $2k but they released $10k. No complaints about that though.
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Post by Banjo on Sept 11, 2013 8:54:28 GMT 7
Did you need to provide any documentation of your condition or was being on the DSP sufficient?
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Post by fedup on Sept 12, 2013 12:03:52 GMT 7
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Post by itsmylife08 on Sept 15, 2013 18:10:43 GMT 7
Got all my super on request but I'm over 55 (:omg I was also on Newstart at the time for over 26 weeks so that helped.
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Post by prodius on Jun 13, 2014 10:22:12 GMT 7
I will be eligible for the Q230 next week. I was working casual for about 8 months last year. So expecting a tax refund this year, would that interfere with my claim for financial hardship? I’m in a pickle at the moment so kind of need both super and refund.
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