I understand that the rules applying to early access to preserved benefits have changed. Whats the current situation?
In the 1997 Federal Budget, the Treasurer announced changes to the rules applying to early access to preserved benefits on severe financial hardship and compassionate grounds. He also said that early access could no longer be obtained on the grounds of residing permanently overseas. These new provisions apply to all applications for early access to preserved benefits received after 30 June 1997. If you wish to apply for early access on the grounds of severe financial hardship, you should send your application to us. However, if you wish to apply for early access on compassionate grounds, you should send your application to the Australian Prudential Regulation Authority. Your personnel section has got details of the eligibility requirements to get early access to preserved benefits on severe financial hardship grounds.
