If you have fallen on financial hardship, accessing up to $20,000 from your super fund is just one of several ways you can get help. This option is yet to be come into effect however we urge you to speak with your financial adviser if you are considering this as an option to help you manage your current financial situation.
Withdrawing funds from your super now can have significant long-term impacts, and can potentially reduce the amount of funds available for retirement or delay retirement plans. This means a simple withdrawal can cost you much more in future earnings depending on your age. In addition, many super balances have dropped considerably with market volatility in the past months and by withdrawing funds now you can be realising those losses.
If you are experiencing financial hardship please get in touch so we can understand your circumstances and guide you through all the available options.
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