Super is your savings for your future, so there are some rules around when you can access it. Generally you need to wait until retirement, but you can access it sooner in limited circumstances.
You can access your superannuation at retirement by opening a HESTA Income Stream account or through a lump-sum withdrawal. It's quick and easy to open an Income Stream account or request a lump-sum withdrawal through your online account.
You first need to meet at least one of these conditions:
You can visit our Retirement Hub for help with super and retirement planning relating to your HESTA account, so you’ll feel ready for your next chapter.
We can help you with:
Visit the Retirement Hub or make an appointment to chat with someone in our team at a time that suits you.
Your preservation age is the age at which you can generally start accessing your super. The age varies according to your date of birth.
Date of birth | Preservation age |
---|---|
Before 01/07/60 | 55 |
01/07/60 - 30/06/61 | 56 |
01/07/61 - 30/06/62 | 57 |
01/07/62 - 30/06/63 | 58 |
01/07/63 - 30/06/64 | 59 |
After 30/06/64 | 60 |
If you would like to discuss opening a HESTA Transition to Retirement (TTR) account with us, you can make an appointment with someone in our team at time that suits you.
You might be eligible to claim some of your super.
You can apply for one payment of up to $10,000 gross (which is before tax) in a 12-month period if:
You can apply for any amount if:
The amount is paid and taxed as a lump sum. If you’re aged under 60 the amount will be taxed between 17% and 22%. If you’re aged over 60, the amount will be tax-free.
Read and complete the Financial hardship fact sheet and form (pdf) to apply.
Return your completed form and other supporting documentation to us via email: hesta@hesta.com.au or mail to: HESTA, Locked Bag 5136, Parramatta NSW 2124.
There are 'compassionate grounds' on which super can be released early. They relate to medical treatment, funeral assistance, and palliative care.
To access your super for medical reasons you’ll need to prove you’re unable to meet the expenses for one or more of the following:
The amount is paid and taxed as a lump sum. If you’re aged under 60 the amount will be taxed between 17% and 22%. If you’re aged over 60, the amount will be tax-free.
The Australian Taxation Office (ATO) deals with the early release of super on compassionate grounds. The ATO determines the amount to be released from your super fund.
To apply, access the ATO application form, or visit ato.gov.au linked services in myGov. Alternatively call the ATO on 13 10 20.
We’ve partnered with Infoxchange, the not-for-profit social enterprise behind Ask Izzy: a free service that helps Australians find and access local support services.
If you need some help outside of super, the Ask Izzy website can connect you with nearby support services across Australia. You can search for over 430,000 services close to you, including financial assistance, meals, mental health counselling, shelter, family violence support, and much more.
The First Home Super Saver (FHSS) scheme lets you save a first home deposit by making voluntary before or after-tax contributions to your super.
You can’t use contributions made to your super by anyone else — employers, government co-contributions, or a spouse — instead, you use the FHSS scheme to save your own contributions.
If you’re eligible for the FHSS scheme, you can use your super account to save up to $15,000 each financial year, up to $50,000 in total across multiple years.
Find out more about the FHSS scheme.
Visit the ATO website for all the ways you may be able to access your super.
We suggest you seek financial advice before accessing your super. That way, you can get the information you need to make the right financial decisions.