‘Early Access to Super’ rules to change

7 May 2015

Assistant Treasurer Josh Frydenberg has today confirmed the government will amend the provision for accessing superannuation for people suffering a terminal illness.

Under the current provision for early access to superannuation, a person with a terminal illness is required to obtain certification from medical specialists if they have less than 12 months to live.

The government will amend the relevant regulations to change the life expectancy period to 24 months. It is proposed this change will take effect from 1 July 2015.

“While this is a small regulatory amendment, it will make a big difference to the lives of those affected and that is why the government has decided to act,” Mr Frydenberg said.

This move follows representations by Breast Cancer Network Australia and other organisations.