Illegal super access

If you’re struggling to make ends meets, the option to access your super early may seem like the answer to all your problems. But be careful as some such schemes are illegal.

There are circumstances where an early release of a portion of your superannuation can be granted but these are exceptions, not the rule. You must satisfy strict criteria laid down by your fund trustee, even then, this should only be considered in cases of extreme financial difficulty.

The upheaval in the economy has resulted in many people losing jobs and income from investments. This has seen an increase in the number of illegal schemes that promise to help you access your super early.

At best, you may face heavy tax and legal penalties – at worst, you may lose all your money.

For information on circumstances where you may be able to access your super early, or details on which schemes to avoid, visit

Written by Debbie McTaggart