The Federal Government has announced a review of the current rules governing early release of superannuation on compassionate grounds or severe financial hardship.
The review will also include the circumstances in which a perpetrator’s superannuation should be available to pay compensation or restitution to victims of crime.
The review will not examine other general conditions of release for superannuation.
The regulatory role of administering the early release of superannuation benefits on compassionate grounds will also be transferred from the Department of Human Services to the ATO in 2018, to enable a more streamlined service to members.
