Covid-19: Early Access to Super and FAQs

The federal government is allowing early access to super funds for Australians impacted by Coronavirus (COVID-19).
AMP Capital senior economist Diana Mousina and financial adviser John Dani share the pros and cons, plus what you need to know before accessing your super.
Watch to find out if you’re eligible for a lump sum payment under the Australian government’s new early access to super scheme and what the early release of superannuation could mean for your retirement.

Find out more about the factors that might influence your decision: https://www.amp.com.au/insights/COVID-19/things-to-consider-before-accessing-super-early

For more information about the government’s early release of super scheme: https://www.amp.com.au/support/COVID-19/covid-19-faqs#earlyrelease

0:51 – Key points of the Australian government’s early access to super scheme
1:20 – Understanding if you are eligible for early access to superannuation
2:18 – How to apply for the early release of superannuation funds through the Australian Taxation Office (ATO)
3:43 – Understanding if early access to super will impact your social security payments
3:59 – Considerations to make before accessing your super

Important information

While every care has been taken in the preparation of this video, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This video has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided.

Original Author: Produced by AMP and published on 23/04/2020 Source