Can I access my super early?

Many older Australians are understandably eager to access their superannuation, but strict rules apply

For many Australians, superannuation will be their most significant source of long‑term savings.

Yet, despite being a crucial part of the nation’s retirement income system since the introduction of compulsory super payments in the early 1990s, confusion still reigns for many people over when they can access super, or if they can get it early.

Broadly speaking, anyone can access their super when they turn 65, regardless of whether they are still working or not. From age 60, if you are retired or leave a job, you can also get full access to your super. For more information about release conditions, visit the ATO’s website.

Transition to retirement

One option is to open a Transition to Retirement (TTR) account, which allows you to access part of your super while you are still working. This can help supplement your income if you choose to reduce your working hours. You can start a TTR once you reach your preservation age, which is the minimum age at which you can generally access your super and is currently 60. Preservation age is different from the Age Pension age, which is 67.

Under TTR rules, your super must be paid as a regular income stream rather than as a lump sum. Withdrawals are capped at 10% of your account balance each year. Once you turn 65, this cap is removed and your TTR automatically becomes a Retirement Income account, giving you full access to your super. To decide what is best for you, it’s important to speak with your super fund or a financial adviser before making any decisions.

Beware of false promises

If you have been on social media platforms recently, you may have been targeted with reels about accessing your super early. The sales pitch is that you can withdraw funds early from super to pay for expensive medical and dental treatments, or even to invest in property. But if it sounds too good to be true, it probably is.

There are limited circumstances allowing you to get your super before retirement under a compassionate grounds scheme. If approved, you can use the retirement funds to meet certain medical, palliative care, disability, death and home foreclosure expenses. However, be conscious that the Australian Taxation Office (ATO) manages such applications, imposing strict eligibility conditions and requiring a raft of relevant documents to support claims.

Some other rare approvals may be granted that allow early access to super. For example, under the First Home Super Saver Scheme, investors may be eligible to withdraw voluntary contributions they have made to super to help save for their first home.

Don’t waste your super

The primary reason the government and the ATO are reluctant to endorse the early release of super is that they want you to have sufficient finances for a healthy and happy post-work life.

Early withdrawals can minimise the magic of compound interest, and potentially leave Australian retirees short of money at a vulnerable point of their life.

Vanguard
08/04/26

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Privacy Policy

About this policy

METRISCOPE Financial Pty Ltd (METRISCOPE) recognises the importance of privacy and is committed to protecting the privacy of individuals when handling their personal information.

This Privacy Policy explains in an open and transparent manner how METRISCOPE will collect, hold, use, disclose, protect and otherwise handle your personal information in accordance with the Australian Privacy Principles contained in the Privacy Act 1988 (Cth).

When you provide METRISCOPE with personal information you consent to its use, disclosure and handling of your personal information in accordance with this Privacy Policy as amended from time to time.

Your Personal Information METRISCOPE collects and holds

METRISCOPE will collect and hold your personal information for the purposes of providing our investment services and products to you.

The kinds of personal information that we may collect and hold include your name, date of birth, tax file number, email address, home address, phone number and bank account details.

Where you do not provide us with all or some of your personal information that we request then we may not be able to provide you with our services.

Personal information collected and held

METRISCOPE collects your personal information directly from you and through our intermediaries when you complete fund application forms. METRISCOPE may also collect data from its registry services.

Other ways METRISCOPE may collect your personal information includes in person or by telephone, letter, facsimile or email.

METRISCOPE may hold personal information collected in both physical and electronic storage facilities including paper-based files and computer databases.

How METRISCOPE uses and discloses personal information

METRISCOPE may use and disclose personal information collected and stored to enable us to provide the financial services and products to you and for other related legal purposes.

For example, we may use and/or disclose your personal information to:

verify your identity;
administer your accounts, investments and the services we provide to you;
comply with laws, regulations, rules, directions or requests from METRISCOPE’s regulatory bodies and/or other government agencies;
comply with METRISCOPE’s own internal policies and procedures.

Where it is legal and necessary to do so, METRISCOPE may disclose your personal information for the purposes described above to our suppliers, contractors, professional advisers, government agencies and regulators or parties involved in the management of your account.

These third parties may be in other countries where laws in relation to the processing of personal information are not consistent with the Australian Privacy Principles or the Privacy Act.

While METRISCOPE may take steps to try and ensure that these third parties do not breach the Australian Privacy Principles in relation to your personal information, the overseas recipient may breach the Privacy Act and/or the Privacy Principles and this may be due to that countries own laws.

By providing us with your personal information you accept that we may make disclosures to overseas recipients on this basis.

METRISCOPE will protect your personal information

METRISCOPE will take all reasonable steps to protect your personal information it holds from misuse, interference and loss, and from unauthorised access, modification or disclosure using both physical and electronic security measures.

By providing us with your personal information over the Internet you accept that such information will be transmitted at your own risk as the security of such information cannot be guaranteed.

METRISCOPE will not retain your personal information, unless required by law, if it is no longer needed for any purpose for which we may lawfully use or disclose it.

Access, correction and complaints regarding your personal information

You may request METRISCOPE to provide you with access to any of your personal information held by us. You should promptly notify METRISCOPE if you become aware that any of your personal information held is inaccurate, out-of-date, incomplete, irrelevant or misleading.

If you have any concerns about whether METRISCOPE has complied with this Privacy Policy or the Privacy Act you can raise your concerns with our Compliance Manager.

You can contact our Compliance Manager via email, fax, telephone or by post on the details set out below. Our Compliance Manager will investigate your complaint and advise you of the outcome.

If you are not satisfied with our response you can complain to the Office of the Australian Information Commissioner.

You can contact our Compliance Manager using the contact details below:

Compliance Manager

compliance@metriscope.com.au

Phone: 02 9659 3955

Fax: 02 9659 4912

Address: PO Box 2036, Castle Hill NSW 1765

We will acknowledge receipt of a complaint within 1 business day, however, where this is not possible, acknowledgement will be made as soon as practicable. We will then investigate the complaint and respond to you within 30 days. Some complex matters may require an extension to thoroughly investigate the complaint and bring it to resolution. If additional time is required, we will advise you in writing.

If you are not fully satisfied with our response, you can contact an external body. In cases of privacy related complaints, this is generally the Office of the Australian Information Commissioner (OAIC).

The contact details for OAIC are:

Mail GPO box 5218 Sydney NSW 2001

Phone 1300 363 992

Email enquiries@oaic.gov.au

Online www.oaic.gov.au

You may also direct privacy complaints related to financial advice to the Australian Financial Complaints Authority (AFCA). The contact details for AFCA are:

Mail GPO Box 3, Melbourne, VIC 3001

Phone 1800 931 678 (free call)

Email info@afca.org.au

Online www.afca.org.au

Privacy Policy updates

We may update this Privacy Policy from time to time to take into account changes in our practices for the handling of personal information by publishing an amended Privacy Policy. You should regularly review the most recent version of this Privacy Policy.

Complaints Policy

Complaints Resolution

If you have a complaint we would like you to tell us so that we can address the matter. We are committed to the efficient and fair resolution of complaints.

How you can lodge a complaint

If you wish to make a complaint, please contact our Compliance Manager on the information below:

Compliance Manager
compliance@metriscope.com.au
Phone: 02 9659 3955
Fax: 02 9659 4912
Address: PO Box 2036, Castle Hill NSW 1765

Our complaint process is free of charge to you. Your complaint does not need to be in writing. If you require any assistance to lodge your complaint, please let us know. You may also choose to authorise a representative to make a complaint on your behalf.

We are bound by the Privacy Act, and we manage and protect your personal information in accordance with the Australian Privacy Principles.

How we will deal with your complaint

We will respond to your complaint in a timely and flexible manner. Our goal is to ensure the earliest possible resolution and we will try to resolve your complaint wherever possible at the first point of contact. Where your complaint is urgent it will be prioritised.

We will ensure you have the opportunity to explain your complaint. To this end we ask that where possible, that you provide the following information about your complaint:

your full name, date of birth and contact details
if relevant, your financial adviser's or mortgage broker’s name
the names of any service providers, such as any investment, insurance or credit product providers, associated with your complaint
any identifying account numbers or other references, such as an investor number, loan number, policy number or superannuation account number
supporting documentation and
the resolution you are seeking.

We will address your complaint fairly and consistently, treating each complaint in an un-biased manner, and ensuring all allegations are investigated thoroughly. We will inform the financial adviser or mortgage broker involved about your complaint and ask them to respond to us.

Once your complaint is resolved any agreed outcomes will be implemented in a timely manner.

How and when we will communicate with you about your complaint

We will acknowledge the receipt of your complaint within 1 business day verbally or in writing.

Where this is not possible, acknowledgement will be made as soon as possible.

We will investigate your complaint promptly and respond to you within 30 calendar days. Our response will include:

The outcome of your complaint including the actions taken to resolve it
The reasons for our decisions and
Information about your rights if you are not satisfied with the resolution.

If we are able to resolve the complaint to your complete satisfaction within 5 business days, we may not provide a written response unless you request a response in writing.

Some complex matters may require additional time to thoroughly investigate the complaint and bring it to a resolution. Where additional time is required, we will advise you in writing within 30 calendar days of receiving the complaint. We will explain the reasons for the delay.

We will communicate openly throughout the process.

If you are not satisfied with the resolution of your complaint, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

Your right to lodge a complaint with AFCA

If an issue has not been resolved to your satisfaction, you can lodge a complaint with AFCA. AFCA provides fair and independent complaint resolution that is free to consumers. The contact details for AFCA are:

Mail GPO Box 3, Melbourne VIC 3001
Phone 1800 931 678 (free of charge)
Email info@afca.org.au
Online www.afca.org.au

About this Policy

We may amend or update our Complaints Policy as required by law or as our business processes changes.