VIC Early Withdrawal of Superannuation While Living Overseas?

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
25 March 2017
2
0
1
Hi All,

I am hoping that someone has some information or experience with a similar situation and can help me as to what my options are.

I am an Australian citizen living overseas. I have been living in Berlin, Germany for the last two years studying. I am not eligible for any kind of 'centrelink' type support services here and I have run into financial difficulties. It may mean that I not only am forced to stop my studying plans, but it might well end with me being homeless here.

I have been researching the possibility of applying for an early part withdrawal from my superannuation, however I can find no information as to how I can do this as an overseas resident, who obviously cannot receive centrelink. As frustrated as this makes me, I'll save my venting for later.

I am planning on attending the Australian Embassy here in Berlin over the next week, as I have seen that they can offer 'limited support' and I am hoping I can arrange for someone there to write in support of my application to my superannuation provider to arrange an early withdrawal. I have sent a detailed enquiry to my super provider, Australian Super, but all I received back was a template 'here is where you can find information on our website' that doesn't speak to my situation at all, and that I had already read.

The argument 'You'll regret taking it out when you're older', doesn't really hold true if it means I have to cancel my higher education, restricting my future earning potential and of course being homeless.

Anyway, griping aside, I really hope there is someone who has some info or experience in this matter who can suggest how I can go about building a strong and correctly presented application, I really appreciate your time in reading and replying.
 

Lance

Well-Known Member
31 October 2015
852
123
2,394
Hi,

I'm not about to lecture you on saving for the future. If you cant live now, there is no future. In cases of severe financial hardship you can draw on your superannuation.

Unfortunately you need to have been on commonwealth support payments for 26 weeks. I think your only other option would be to apply for early release of benefits on compassionate grounds, but I'm not sure paying uni fees would be grounds for compassionate release. AustralianSuper - Withdraw Your Super Early

Good luck.
 
25 March 2017
2
0
1
Hi Lance,

I appreciate you taking the time to read and reply, it's looking like I'm just gonna have to find another way through. So ist das.

All the best,