Temporary early access to your super
Commonwealth legislation was passed on 24 March 2020 allowing people who were financially affected by the coronavirus temporary access to their super of up to $20,000.
You could apply to access up to $10,000 in each of the 2019/20 and 2020/21 financial years. Applications had to be submitted between 20 April and 30 June 2020 (for year one) and 1 July and 31 December 2020 (for year two).
Members did not have to pay tax on this money, and the money wasn’t included in any income or means testing.
The application process
As GESB is an exempt public sector superannuation scheme, members had to apply with us directly and satisfy the eligibility criteria below.
Citizens or permanent residents of Australia or New Zealand
You were eligible to apply if you were in one of the following circumstances:
- Unemployed
- Eligible to receive a Jobseeker payment, Youth allowance, Parenting payment, Special benefit, or Farm household allowance
- Made redundant, or work hours reduced by 20% or more (including to zero)
- Sole trader in a suspended business or there was a reduction in turnover of 20% or more
Temporary residents
You could apply if you were in one of the following circumstances:
- Student visa holder for 12 months or more and unable to meet immediate living expenses
- Temporary skilled work visa holder and still employed but unable to meet immediate living expenses
- Temporary resident visa holder (excluding student or skilled worker visas) and unable to meet immediate living expenses
Accessing your super early could affect your future retirement
Being paid some of your super early will affect your super balance and may affect your future retirement income. Withdrawing some of your super early may also affect your Salary Continuance Insurance (SCI) or Death and Total & Permanent Disability cover.
If you withdrew money from your super under the temporary early access scheme, you could add money back in at any time to boost your retirement savings.
Learn about the different ways you can add money to your super.
More information
- Find out more on Investing during volatile markets
- Use our contributions calculator to work out how to make the most of your super contributions
- Call us on 13 43 72
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Thank you for printing this page. Remember to come back to gesb.wa.gov.au for the latest information as our content is updated regularly. This information is correct as at 29 March 2024.