Forum Discussion

KezzaG's avatar
KezzaG
Member
7 years ago

Financial difficulties

Hi everyone
I was diagnosed in August with ILC and have only been able to work a handful of days since my diagnosis.  Since I started chemo I've been hospitalised with a blood clot (DVT) in my leg, pneumocystis (PJP) and most recently Clostridium Difficle (C. Diff).  I'v had severe fatigue from the chemo and have been an emotional wreck from this entire experience.
I've been extremely lucky though that my employer has been so supportive and has placed no pressure on me returning to work and is open to me coming in on any day for however long I can just to keep in touch.  They have also generously offered me one months pay ex gratia.  
My issue is that I have now exhausted all of my sick leave and have only a couple of weeks left of my annual leave but am not in a position mentally or health wise to return to work yet.  Foolishly, when I was younger I never opted for income protection on my superannuation so I don't have this to fall back on either. 
I contacted my Super fund to ask how I could access some funds from my super to allow me a couple of more months before I had to return to work.  They advised me that this was dealt with by the ATO with a request for compassionate release of super funds.  I went through this process on line and even called the ATO but unfortunately I don't fit into any of their categories to be able to claim compassionate funds. You have to be unable to pay your medical bills (mine are all up to date), have a terminal illness (Stage 3 BC isn't classed as terminal) or be in mortgage foreclosure (which I'm not, but may end up there soon if I don't return to work).  The ATO directed me back to my Super fund to ask for financial hardship payment. 
My Super fund advised that to claim financial hardship, I had to be receiving Centrelink payments for a minimum of 26 weeks.
This whole process is so frustrating but is also adding to my stress levels and anxiety.  I've worked hard for so many years to make sure I was in a good place with my financial situation but this has just been eroded over the last few months due to BC. I feel like the ATO and Super fund want me to be in complete financial distress before they'll assist but I'm trying to be proactive and avoid getting into that situation. 
Does anyone have any advice or suggestions?  Does anyone know of any other avenues that can be taken to access superannuation?
finances
superannuation
work

11 Replies

Sort By
Show More
  • Zoffiel's avatar
    Zoffiel
    Member
    7 years ago
    Hi @KezzaG I know exactly how you feel. I was made redundant 6 weeks before my recurrence was diagnosed so couldn't access my income insurance. Because I received a payout, I couldn't get Centrelink benefits for 12 months. About 6 months into that I  did some work for Cancer Australia and they paid me some sitting fees, which I declared, which cut me off benefits for a fortnight then it was another 6 months before I could apply for early release of supper due to financial difficulties.
    Even once I got to that point it was a terrible experience getting them to release some of my money. They kept changing the conditions; saying I had to be in default of my mortgage, which was not true, saying I had to have unpaid bills, not true, misquoting legislation, telling me all sorts of bullshit. I eventually got a pay out, but it took months.

    So, what to do in the interim. Much as you won't want to, you need to go and investigate Centrelink sickness benefits. If your employer agrees your job will still be there when you ''recover' you should be eligible. It's not much, but should mean you will get a healthcare card, they really help with medical costs. Don't try and do it over the phone. Dedicate a day to sitting in their offices.

    One of the first things you should ask for is to see or speak to a Centrelink social worker, ask your breast care nurse for a referral. Specify Centrelink, not the ones attached to the hospital. They can get you into the system better than a drone at a desk, though you will still have to suffer the ritual humiliation of the office.

    Check to see if you have mortgage protection insurance on your loan. Most of the time they will only pay if you are unable to work at all. If you are ahead with your payments, organise to have your weekly payment dropped back (maybe just enough to cover the interest) for a couple of months. That's not renegotiating your loan , so there shouldn't be any fees.

    I lived off my savings for 18 months with no real prospect of getting back into the full time workforce. I'm still only working a couple of days a week. If I factor in lost wages, the whole performance has cost me over $180k in the last two years. It is very, very stressful. Mxx