Nationwide Super has processes in place to assist members facing significant financial issues and can also provide information and links to organisations that may be able to help you deal with the emotional effects.
In limited circumstances, you may be able to access part or all of your super benefits in times of severe financial stress, prior to retirement.
Accessing your super due to financial hardship
To access your super on the grounds of financial hardship, you must meet a number of strict criteria, including receiving an eligible Centrelink or Department of Veterans Affairs pension or allowance for a minimum time period.
For more information, please contact us to discuss your eligibility and to request the Information Sheet – Early Release of Benefits Due to Severe Financial Hardship.
Restrictions from 1 July 2016
The Trustee of Nationwide Super no longer accepts claims to access super account balances under severe financial hardship for members that first suffer financial hardship from 1 July 2016. To submit a financial hardship claim, members must have previously lodged a successful claim for financial hardship or have been suffering financial hardship prior to July 2016.
Accessing your super on compassionate grounds
The Australian Taxation Office (ATO) can authorise access to super benefits on compassionate grounds if you need money for specific reasons.
For more information, please contact us to request the Information Sheet – Early Release of Benefits Due to Compassionate Grounds or you can apply via your ATO linked service in MyGov. If you can’t apply online, contact the ATO on 13 10 20 to obtain an application form.
Making a claim on your Nationwide Super insurance
If you are unable to work due to illness or injury, you may be able to claim an insurance benefit. You should contact us and we’ll help you to understanding your insurance cover and send out preliminary claim paperwork.
If you are a family member or executor of a Nationwide Super member who has passed away, you should contact us as soon as possible to advise us.
Help in managing finances
A financial counsellor can assist people with a wide range of financial problems. If you are having difficulty paying bills or debts, financial counsellors can help you get back on track in terms of your financial commitments, and can guide you in dealing with lenders.
You can contact the Financial Counselling Association of Australia on 1800 007 007 to speak to a counsellor or to find a counsellor local to you, alternatively you can visit the Government’s MoneySmart website for more financial counselling information and services.
There are a number of services available that provide support to people suffering depression or facing an emotional crisis, including health professionals and the following organisations:
beyondblue is the national depression initiative. Their website www.beyondblue.org.au has a number of factsheets about depression and related illnesses and symptoms checklists. You can also call the beyondblue Info line on 1300 224 636.
Lifeline provides access to crisis support, suicide prevention and mental health support services. Contact Lifeline’s 24 hour crisis support service on 13 11 14 or visit www.lifeline.org.au
To speak to someone for more information, simply contact us on 1800 025 241 or email email@example.com.