Denied early access to my Super fund
Found out today I have been denied accessing my Super early as my onc refuses to sign the form.
My life expectancy is 3-5 years. What is the point in having to wait until I'm on my deathbed to be granted MY money that I have been MADE to save all these years by the government?
I am not coping well with this news, feel like the quality of my life is being restricted by beaurocratic bullshit. I had to give up my job because of the gruelling treatment, I need the money NOW not in my final days.
interested in other's experiences and if there's anything I can do to turn this around.
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Comments
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Hi @Etta - that is such horrible news - what bullshit that u have to go through this - it’s your money, u worked for it and u should be able to access it for treatment costs and anything else that u might want to do. I’m so sorry this is happening to u. Big hugs1
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Thanks @kmakm, he won't sign as he thinks I will live for 3-5 years, not the 24 months regulated by my Super fund (& all Super funds I believe). It is an intolerable situation, being allowed access to my own money in my final couple of years when I probably won't be able to do much is grossly unfair. The injustice of the system is inexplicably unfair. X0
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Thanks @Kiwi Angel x0
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I completely agree. It seems incredibly arbitrary.0
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@onemargie
You might be able to suggest some things here as I know you were tackling the super side of things.....
Sorry that your onco won't sign in @Etta
Can your GP sign it instead?
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That's pathetic! New onc, maybe?0
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I’d be chatting to your State Ombudsman or Federal. Also how about your state Consumer Affairs ? Maybe your local State or Federal MP might help .1
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There also is a Superannuation Complaints Tribunal - details online and might be a good starting point.1
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If your life expectancy is less than 24 months they'll pay but you have to pay tax on it, less than 12 months you don't have to pay the tax. My oncologist was very reluctant to sign, but hey, I may not have lived 12 months. Just so happens, I'm still alive. Don't give in.2
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Grrr - mean rules. I hope you work out a way round it. Some good suggestions above. Best wishes from jennyss0
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@etta I'm in a similar battle. If I do live long enough to access my super I'll be able to afford a bottle of cheap wine and a takeaway meal. I haven't worked full time since August 2016 and have been receiving benefits so would qualify for hardship except that I did some work, as a cancer consumer rep, for a government agency which paid me for work I'd done over a month in one hit. Three months after I'd done it.
Anyway, because that pushed me past the Newstart threshold, for a fortnight, I'm back to square one and have to be destitute for another six months before I can apply for the release of 10% of my super. Which is not very much.
I can understand, to a point, medicos not wanting to sign off that you are going to cark it within two years. That's crystal ball stuff that doesn't work for many reasons. Six months, different story but, and this is the but, none of them want to be held to account if you lived for longer than expected and ripped your money out.
There are a couple of avenues, financial hardship and the need to get at YOUR money to pay medical expenses. Unfortunately, most of the time you have to pay the bills then claim compensation--otherwise we would all be lining up for top shelf reconstructions then changing our minds when we have the money. Or so the reasoning goes.
It's exasperating.
Mxx
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Wow thank you everyone for sharing your experiences and advice.
@Zoffiel your experience sounds terrible, sending love and thoughts to you (about as much as I can do given our 'powerless' situations!)
I will look into the tribunal option, the irony being of course is I don't have the mental strength to even begin...
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Your GP should be able to sign. When I was on Centerlink they said the GP had the same weight in reports and I didn't need to see each and every specialist for one.2
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Hi@Etta, Im one of the Cancer Nurses working on the Helpline at BCNA. I'm sorry to hear about your issues accessing Superannuation. You may already have seen this information on our website but if not, here is a link to BCNA's fact sheet on Superannuation and insurance payments for people with a terminal illness. https://www.bcna.org.au/media/4246/bcna-fact-sheet-superannuation-jan-2017.pdf
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