Forum Discussion
What they do not tell you about accessing your super
Well, it's been an interesting day.
I've spoken to my super fund several times in the last couple of months about accessing super on the grounds of financial hardship. The information I was given was that once Centrelink confirmed I was eligible I would be able to lodge a claim.
What I was not told, at any time, was that they will only release enough to cover debts that are currently in default--that if you are foolish enough to borrow money from friends or family to cover expenses such as rego, power, water, rates etc. you will not be able to make a claim. That money suddenly becomes a personal debt rather than a living expense. Even if you can demonstrate that your immediate living expenses are higher than your income, you don't qualify.You actually have to wreck your credit rating and get disconnected from services before there is any chance of getting hold of your money.
So, if you are intending to attempt to access your super in the foreseeable future do not borrow any money to cover any bills that are overdue until you are certain you are doing the right thing.
I am furious. I've been escalated up the line of management, all of whom have apologised profusely for the oversight. The calls have been recorded, so there is no question about what information was given to me. We've had a little listen to them to make sure. There is also no redress--it's just too bad. They will improve their service delivery, so I am told. Like hell they will, the parasites.
I'm gong to do the whole letter to my MP thing, but the legislation is the legislation and there is no getting around it. This also applies if you want access on compassionate grounds, you must be in default to the service provider and the bills must be unpaid.
Of course, you should check with your fund to make sure, but you now have some idea what you should be asking. I suggest you ask some very pointed questions because there is no way they will tell you what you need to know otherwise.
41 Replies
- @zoffiel Well I’ve just read all your posts and I certainly have had my issues with my super also my income protection was cancelled without my knowledge (very long story) and I complained and wrote to the ombudsman back in January and my case is still pending. They said I won’t hear anything until at least the new year. And you have to jump through hoops to even complain In the first place.
I also tried to access my super for financial hardship and got the need to be on centrelink for 26 weeks first. We didn’t qualify as hubby was working and the threshold isn’t even the minimum wage (something else I complained about to the minister for human services) they said that’s all I needs to qualify though. I had a friend access hers for financial hardship with qsuper and she had no issues. She qualified as she’d been on Newstart for more than 26 weeks she doesn’t have a mortgage and had money in term deposit as well and she got around $5000 from memory?? She also wasn’t behind on her bills so I’m not sure why this has been so complicated for you Marg.
I was also trying to find the article I posted on here about the young fella who accessed his super for surgery for his dog that had cancer. He was on a centrelink payment too. I sent this to the minister for human services and all the pollies I i clearly argued that it’s unfair this guy can claim for his dogs surgery and I had breast cancer paid tax all our lives and couldn’t claim jack shit to help pay the bills while I was crook. So who the fuck knows.
On on the other hand I had the money for my recon to be done as a private patient in the public system approved by the dept human services. The paperwork was simple and uncomplicated and once it was approved by them it’s guaranteed to be approved by your super fund. I didn’t pursue it in the end as I couldn’t justify spending that much money on surgery so it’s funny how things can be so complicated with them on one hand and then on the other hand so simple. They did tell me they just transfer the money for the surgery in your account to use as needed. So I’ve got no idea. Margie x - Had mine paid within a month of applying. MLC were great I had no hassles, the longest wait was for my Oncology appointment so as I could get the forms signed by them.
- Just as bloody well, @Sarnicad !!
- The answer on whether you have to die in the 2 years is no. You just have to have drs certify that you are in their opinion terminal in 2. And no if you don’t oblige and fit the timeframe you don’t pay it back.
- I want to use a word that would get me thrown off this forum...
- I agree with @Sister. That is disgraceful. I bet the blokes with Prostate get paid out straight away!
Sadly, it happens all the time with all sorts of claims - they are always looking for the 'out clause' so they don't have to pay. :( NOT GOOD ENOUGH! - Bloodsucking b#@&#$ds
- They are such bastards. Not radical enough. Right
- Today's news - this is about Trauma Insurance that the Bank didn't want to pay out
https://www.smh.com.au/business/banking-and-finance/breast-cancer-surgery-wasn-t-radical-enough-for-comminsure-20180913-p503j6.html - @arpie I'm still in the sorting out the mess bit - had a cry about it yesterday (just call me blubbergirl) but the ombudsman is definitely on the cards if necessary (even if it's just a big stick to use).
