Using Your Super (Early Release of Super)
If you are experiencing severe chronic pain or facing a life‑threatening condition, you may be able to access your superannuation early to pay for private surgery. This pathway is administered by the Australian Taxation Office (ATO) and has strict criteria.
Eligibility
According to ATO guidance, you may qualify if:
- Your treatment is to treat a life‑threatening illness or injury, or alleviate acute or chronic pain or a mental illness.
- The treatment is not readily available through the public health system in time.
- Two registered medical practitioners, including a specialist in your condition, certify that the treatment is necessary.
Four‑step process
- Check your eligibility: Ensure your situation meets the ATO criteria and explore other funding options first.
- Obtain medical reports: Ask your GP and a relevant specialist to complete the required ATO medical report forms certifying the necessity of treatment.
- Gather quotes: Collect written estimates from your surgeon, anaesthetist and hospital. You’ll need these for your application.
- Apply via myGov: Log in to myGov and lodge an application for compassionate release of super on medical grounds. The ATO will assess your application.
Early release of super is a last resort and may reduce your retirement savings. You should seek independent financial advice before making a withdrawal.
Disclaimer: This information is general only and does not constitute financial or medical advice. We do not guarantee eligibility or the success of any application.