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Notice of Changes to Trust Deed – Financial hardship and Under $200 claims

From 1 July 2016, the Trustee of NSF Super will cease accepting claims to access super account balances under the following grounds:

  • Termination of gainful employment from 1 July 2016 with an employer that made super contributions to NSF, where the member’s preserved NSF super benefit at the time of the termination is less than $200.
  • Severe financial hardship for members that first suffer financial hardship from 1 July 2016.

Members that have previously lodged a successful claim for severe financial hardship or are claiming for severe financial hardship first suffered prior to 1 July 2016 will continue to be able to submit financial hardship claims after 1 July.

This change reflects our commitment to helping members maximise their benefit at retirement, when super is most needed as a supplement or substitute to the Age Pension.

We encourage any members experiencing financial difficulties to contact a financial counsellor, who can assist with a wide range of financial problems, at no cost. If you are having difficulty paying bills or debts, contact the Financial Counselling Association of Australia on 1800 007 007 to speak to a counsellor or find a counsellor local to you.

Other minor changes

NSF Super’s Trust Deed will also be amended from 1 July 2016 in several minor respects that have no effect on members’ entitlements. The Trust Deed is available on our Governance page here.