It’s understandable that our members are feeling anxious about the financial impact of COVID-19 (coronavirus).
The government is allowing individuals in financial stress as a result of COVID-19 to access some of their super. While super helps people save for retirement, the government recognises that for those significantly financially affected by COVID-19, accessing some of their super today may outweigh the benefits of maintaining those savings until retirement.
From 1 July 2020, Australian or New Zealand citizens or permanent residents may be able to request up to $10,000 until 31 December 2020, when this measure ends. This has been extended from its original end date of 24 September 2020.
We hope this information helps to answer any questions you might have about accessing your super early due to COVID-19.
Frequently asked questions
If you’d like more information on Tasplan’s response to COVID-19, visit tasplan.com.au/coronavirus-update.
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Try MoneySmart's calculator to see the potential long-term impact of accessing your super early.