Hey OzB fam, was just wondering if anyone knew if early access to superannuation was available to women on maternity leave?
I understand people on parenting payments can get early access- I just wasn't sure if maternity leave fell under the parental payments wing of centrelink allowances.
Don't want to call centrelink but cant find clarification on their site.
I am a part time worker (4 days a week) and will be going on maternity leave from June 1st.
Anyone else in this boat?
Thanks fam.
Don't get your money out now; it's been devalued by 30-40% Wait at least a few months and it may get back closer to what it was..
lol show me a super fund that has 30-40% devaluation over the last couple of months. 5-10% Maybe
No you can't. A normal "Financial Hardship" release requires you to be on Centerlink for a minimum if 26 weeks and you have to satisfy the Trustee/s with evidence such as overdue bills.
No you can't. A normal "Financial Hardship" release requires you to be on Centerlink for a minimum if 26 weeks and you have to satisfy the Trustee/s with evidence such as overdue bills.
This is the rule that normally applies, though the current situation is different.
https://www.ato.gov.au/General/COVID-19/Support-for-individu…
You are eligible to access your superannuation if you meet any of the following criteria:
You are unemployed.
You are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance.
On or after 1 January 2020, either
you were made redundant
your working hours were reduced by 20% or more
your business was suspended or there was a reduction in your turnover of 20% or more, if you are a sole trader.
You are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments)…
Does maternity leave fall under parenting payment? (I don't think it does).
Congrats on the bub
Before I met my partner she was working as a nurse and not on Centerlink and was on the hospital waiting list for elective surgery. After 18 months on the list with no date for surgery in the foreseeable future she approached her super fund to release funds for the surgery. It was granted.
OP: Most likely you'll just be accessing the standard government maternity leave and whatever is provided by your employer.
If you are not in financial hardship you cannot get money out of super.
That's my confusion. Centrelink says you are eligible if you are on a parenting payment- and my only income will be reduced from my normal salary to maternity leave.
It's obviously not because of corona virus but I'll be accessing a parental payment and receiving less than 50% of my usual pay.
Hope that makes sense as to why I'm querying. Thanks for the reply.
“Parenting payment” is a specific centrelink payment for zero/low income households
https://www.servicesaustralia.gov.au/individuals/services/ce…
You're not unemployed. So can't access your super early.
Yes, but I'm accessing a centrelink parenting payment. Hence my confusion.
You will be getting Parental Leave Pay, which is not parenting payment.
You need to call your super fund, not Centrelink. They will be able to advise you of eligibility.
Edit: in order to access super, you need to provide evidence of financial hardship.