The Federal Government is allowing people affected by the COVID-19 coronavirus outbreak to apply for early release of their superannuation.
If you're eligible, you can access up to $10,000 of your super between 1 July and 31 December 2020.
Are you eligible?
You’re eligible for early release of your super if:
- you're unemployed, or
- you're eligible to receive a job seeker payment, youth allowance for job seekers (unless you're studying full time or you’re a new apprentice), parenting payment, special benefit or farm household allowance, or
- on or after 1 January 2020:
- your role was made redundant, or
- your working hours have been reduced by 20% or more, or
- if you’re a sole trader - your business was suspended or suffered a reduction in turnover of 20% or more.
Temporary visa holders are not eligible to apply for one lump-sum withdrawal in the 2020/21 financial year.
Early access to super – things to consider16 April 2020 | COVID-19 Super is designed to pay for your life in retirement, so withdrawing money from it now could have an impact on your retirement lifestyle. Find out more with AMP Read more
Could accessing your super early put your insurance cover at risk?27 May 2020 | COVID-19 There are many things you should consider before making the decision to access your super early, one of them is insurance cover inside your super. Read more
Managing debt if you’re cash strapped17 April 2020 | COVID-19 For many Australians, falling behind on debt repayments is a reality in the wake of coronavirus (COVID-19). Here’s some ways to manage debt during challenging times. Read more
How it works
Visit my.gov.au. If approved, you'll receive confirmation through MyGov within 4 business days – you can't apply directly to your super fund.
The ATO will send us your approved request so we can pay you.
We'll process your payment within 5 days of the ATO notifying us.
Get in touch
You may find a bit of a wait on phone lines – sorry, we're working hard to get to everyone. Here are some different ways to find what you're looking for.
9am - 5pm, Monday to Friday (Sydney time)
Insurance, Super and Retirement
8.30am - 7pm, Monday to Friday (Sydney time)
Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP at amp.com.au or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
Products in the AMP Eligible Rollover Fund, National Mutual Retirement Fund, and NM Pro Super Fund are issued by Equity Trustees Superannuation Limited ABN 50 055 641 757 (trustee). Risk products are issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. AMP Life has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.
Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.
Any video content on this page was current on the date it was published. As a result of changes to the business from time to time, including changes to product, product issuer, services, trust, trustees and other entities, the information may no longer be current. For up to date information, we refer you to the relevant product disclosure statement and product updates.