Financial hardship fact sheet and form (pdf)

Accessing super

due to financial

hardship

Accessing super

Super is your savings for your future when you stop

working, so there are some rules around when

you can access it. Generally you need to wait until

retirement, but if you’re facing financial hardship,

you may be able to apply to release some of your

super early.

Check eligibility

To apply for a payment under financial hardship

you must meet the eligibility criteria for the claim

type that applies to you. You must meet both

conditions shown under either option below.

Claim Type 1

(under preservation age)

You have been on eligible Commonwealth income

support payments for a continuous period of 26

weeks and continue to be on those support payments

at the date of your financial hardship application.

You are unable to meet reasonable and immediate

living expenses.

Claim Type 2

(must be over your preservation age plus 39 weeks)

You have been on eligible Commonwealth income

support payments for a cumulative

period of 39 weeks after you have reached your

preservation age.

Note: if you have reached your preservation age plus 39 weeks

and do not qualify under this claim type you may be eligible to

make an application under Claim Type 1.

You were not gainfully employed on a full-time or

part-time basis on the date of application.

Am I eligible to withdraw my super?

Find your preservation age

Your preservation age is generally the earliest age

you can access your super, and it’s calculated

based on your date of birth.

Date of birth Preservation age

1 July 1960 – 30 June 1961 56

1 July 1961 – 30 June 1962 57

1 July 1962 – 30 June 1963 58

1 July 1963 – 30 June 1964 59

From 1 July 1964 60

Page 1 of 2

Page 2 of 2

Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL 235249, the Trustee of HESTA ABN 64 971 749 321. This information is of a general nature. It does not take into account your objectives,

financial situation or specific needs so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. The

target market determination for HESTA products can be found at hesta.com.au/tmd. Before making a decision about HESTA products you should read the relevant Product Disclosure

Statement (call 1800 813 327 or visit hesta.com.au/pds for a copy) and consider any relevant risks (visit hesta.com.au/understandingrisk).

hesta@hesta.com.au | 1800 813 327 | Locked Bag 5136, Parramatta NSW 2124 | hesta.com.au

Check you have given us the required

information

1. Identity

As well as your membership and supporting information

about your financial circumstance you will need to give

us your identification details – this is to help us make

sure we’re releasing your benefit to you. You need to

provide either:

• your ID document details and consent to verify your

identity electronically e.g. Medicare, passport or

Drivers Licence, or

• send us certified copies of identity documents via

email or post.

2. Government support

• Provide your Centrelink Reference Number (CRN)

and authorise us to check that you’ve been receiving

eligible Commonwealth income support payments, or

• If you do not give us your CRN you will need to provide

us with an original Centrelink income support payment

confirmation letter. The date of the confirmation letter

must not be more than 21 days from the date of your

financial hardship application.

3. Claim amount and bank account

Tell us how much you are applying for and where to pay

the funds.

Important things you should know

• If you have made personal contributions during the

year you might be able to claim a tax deduction.

To claim a tax deduction for personal super

contributions, you must send us a Notice of intent

to claim or vary a deduction for personal super

contributions form before you withdraw your super

benefit, transfer any part of your account to a

retirement income account or close your account.

For more information see

hesta.com.au/claiming-a-tax-deduction

• Unless you’ve reached your preservation age and

39 weeks, the most you can withdraw is $10,000.

Applicable tax will be taken out of the amount

approved (up to 22% if we have your Tax File Number).

For most people, this means the maximum net amount

you may receive is $7,800.

• If you instruct us to withdraw your full account balance:

– you should check that any contributions have gone

into your account before you complete this form.

If we receive any late contributions, we will need to

open a new account for you.

– If you have any insurance cover it will cease if

you don’t have enough funds remaining in your

super account to pay insurance fees or upon full

withdrawal of this benefit.

• You’re not eligible to apply for a payment on

financial hardship grounds if you’re a temporary

resident in Australia.

If you don’t meet the criteria to access your super on

grounds of financial hardship, you may still be able

to apply on compassionate grounds. Applications on

compassionate grounds are made via the Australian

Taxation Oﬀice. You can read our guide to learn

more about applying for an early release of super on

compassionate grounds. For more information visit

hesta.com.au/accessing-super

When will my claim be paid?

When we have all the information required,

and you are eligible to access your super

on the grounds of financial hardship,

your application and payment will be

processed within 3-5 business days.

1553.1 01/24 ISS2

Please tick the relevant boxes below to indicate the type of

monthly living expenses you expect you are or will be unable

to meet and estimate the amount in whole dollars below:

Rental payments

Home Loan, personal loan and other debt repayments

in arrears including minimum credit card repayments.

Utilities (e.g., electricity, gas, water, telephone)

Car related expenses (e.g., repairs and maintenance,

registration, and insurance)

Other (e.g., home insurance, education, food, petrol,

and medical expenses)

Total approximate amount of expenses

(insert whole dollars only)

I declare and confirm the following statements are true and

correct (you must tick the relevant box below for the Claim Type

you are applying). Choose one from the below.

Claim Type 1 – the amount I am requesting is necessary

for me to meet my reasonable and immediate living

expenses and I have not made any other Financial

Hardship claims with any other super funds in the last

12 months;

Claim Type 2 – the amount I am requesting is necessary

for me to meet my reasonable and immediate living

expenses and I’m not gainfully employed in a full time

or part time basis.

And

I do not hold any financial assets (such as cash holdings,

term deposits, investments, shares) that can be used to

meet my expenses.

We are authorised by law to ask for your TFN. You do not

have to provide it but if you don’t, you may end up paying

more tax than you need to. See Why we ask for your TFN at

hesta.com.au/tfn for further details.

My TFN is:

2. Your Tax File Number (TFN)

Member name:

Member number:

Date of birth:

Residential address:

Postal address (if different):

Email:

Do you give us permission to contact you via email?

Yes

Telephone number (after business hours):

Mobile:

1. Member details 3. Financial shortfall of reasonable living expenses

You must complete all sections of this form using a pen.

If you need any help completing this form you can call us on 1800 813 327.

application for benefit payment

financial hardship

Page 1 of 5

CLAIM TYPE 1 – UNDER PRESERVATION AGE

Specify amount up to $10,000 before tax.

(whole numbers only);

Full account balance to be withdrawn (up to a

maximum of $10,000 before tax) and close my account.

The maximum amount you can claim is $10,000 (before-tax) in

any 12-month period. Applicable tax will be deducted from the

amount approved (up to 22% and provided we have your TFN).

This means for most people, the net amount you receive is $7,800.

CLAIM TYPE 2 – OVER PRESERVATION AGE AND 39 WEEKS

Specify amount

(whole numbers only);

Full account balance to be withdrawn less any applicable

tax and close my account.

If you are over age 60, your payments are generally tax free.

5. Amount you are claiming

If you meet the eligibility criteria specified in the Financial hardship factsheet, you may request a payment under the specific

Claim Type that applies to you at the date of this application. The maximum amount you may be eligible to claim will depend on

whether you are under or over your preservation age. If you are over preservation age and still working you may be able to eligible

under Claim Type 1. Choose one from the below.

Important

If you select the full account balance, we will close your account and any insurance cover you have will also stop.

Payment will only be paid via electronic funds transfer (EFT). Provide all details as requested below.

Name of bank account holder:

Note: Your nominated bank account must be held in your name or, if it is a joint account, you must be one of the account holders.

BSB:

Please ensure the information you have provided is correct as it may not be possible to recover

your money if it is paid to an unintended recipient. HESTA will not verify your bank details.

Bank account number:

6. Give us your banking details

4. Your Centrelink Reference Number (CRN)

Confirm you are receiving Commonwealth income support payments.

You can authorise us to confirm electronically with Centrelink that you are in receipt of an eligible Commonwealth income support

payment — you’ll need to provide us with your CRN.

If you’re not sure if you qualify, or to access your CRN details, you must contact Centrelink directly.

If you give us your CRN and by signing the declaration on page 5 of this form, you authorise HESTA and the Fund’s Administrator,

Australian Administration Services Pty Limited (AAS) to use Centrelink Confirmation eServices (CCeS) to perform a confirmation

enquiry of my customer details. Services Australia to provide the results of that enquiry to HESTA and AAS.

If you do not wish to provide us with your CRN, you will need to send us an original Centrelink income support payment

confirmation letter.

My CRN is:

Page 2 of 5

To apply for the early release of super on the grounds of financial hardship, you will also need to provide us with identification

documents. This is to protect you from the risk of identity fraud, and to ensure your super is paid to you..

There are three ways you can provide us with your ID.

1. you can provide document details and your consent for us to verify your identity electronically, or

2. scan your certified identification documents and email all requirements to: hesta@hesta.com.au or

3. you can provide certified documents in hard copy and mail all requirements to: HESTA, Locked Bag 5136, Parramatta NSW 2124.

7. Proving your identity

I consent to the Trustee of HESTA verifying my identification via electronic means including in the event my certified documents

have not been correctly certified or if I apply for IP or TPD and have been approved for payment.

Signature: Date signed:

Verification of identification

Option 1: Electronic proof of identity Option 2: Provide certified copies of ID documents

Please provide at least TWO of the following for verification.

Electronic verification

If you select this option you do not have to attach any

certified documents. We will do all the checks for you.

I authorise the use of the below information for this purpose

(complete ‘Verification of identification’ on this form):

My Medicare number is:

Exp. date:

I am person number

on this Medicare card

My Australian Driver licence number is:

Card number: (see Driver licence card number under Proof of

identification at hesta.com.au/forms-brochures)

Exp. date: State of issue:

My Australian passport number is:

Exp. date:

Place of birth:

Country of residence:

Name on citizenship document (if applicable):

Family name at birth:

This step-by-step guide details the types of documents we can

accept as proof of your identity and what you need to do to

certify them correctly.

Hard copy verification

If you select this option you must attach all certified

documents.

Acceptable documents

Either

A certified copy of a primary photographic identification

document:

• current photographic driver’s licence issued under state or

territory law (copy of the front and back)

• current passport (including English translation where

required).

A certified copy of a primary non-photographic identification

document:

• birth certificate

• citizenship certificate issued by the Commonwealth of

Australia

• pension card issued by Centrelink that entitles you to

financial benefits.

and

A certified copy of a secondary identification document:

• a notice issued by a local government body or utilities

provider within the preceding three months that shows

your name and residential address.

• notice issued by Commonwealth, state or territory

government within the past 12 months that shows your

name and residential address. For example:

– Tax Oﬀice notice of assessment

– a notice recording the provision of financial benefits

i.e. a Centrelink assistance payment.

Page 3 of 5

How to certify

The person authorised to sight and certify documents must:

• sight the ORIGINAL and the copy and make sure they are

identical, and

• write or stamp ‘certified true copy’ on all copied pages

followed by their signature, printed name, qualification

(e.g. Justice of the Peace), registration number (if applicable)

and date.

What does a certified document look like?

Samantha Sample has provided a photocopy of her

identification that included signature, full name, date of birth,

and current residential address.

• The certifying authority has sighted the original

identification, and confirmed that the copy is a true copy.

• Details for the certifying authority are included: full name,

qualification, registration number (if applicable), date

and signature.

“I certify that this document is a true copy of

the original”

Name: Kate Anderson Qualification: JP

Date:

31 Ju

ly 2015

egistration no:

222222

Who can certify my identification document?

For a full listing of people who can certify your documents,

see Schedule 2 of the Statutory Declarations Regulations 2018.

Some of the people who can certify copies of originals as true

copies are:

• a medical practitioner

• a nurse

• an optometrist

• a psychologist

• a pharmacist

• a chiropractor

• a veterinary surgeon

• an accountant (member of ATMA, CA ANZ, CPA or IPA)

• a teacher permanently employed full time or part time basis

at a school or tertiary institution

• an oﬀicer with, or authorised representative of, a holder of

an Australian Financial Services Licence (AFSL), having five

or more years continuous service with one or more licensees

• a notary public

• a police oﬀicer

• a Justice of the Peace

• a magistrate

• a bank oﬀicer with 2 or more continuous years of service

• a marriage celebrant

• a member of the Governance Institute of Australia Ltd

• a permanent employee of the Australian Postal Corporation

with 5 or more years of continuous service

• a SES employee of the Commonwealth.

What if I don’t certify my identity documents correctly?

If the identification documents you send with your application

are not certified or incorrectly certified, we may call you to verify

your identity over the phone. If you’re unable to give us enough

information to identify you over the phone, you may need to

resend certified proof of identity documents. This will lead to

delays in processing your application.

Alternatively you can give your consent for electronic verification

of your documents to be completed in the event that your

documents have not been correctly certified, please sign

the consent section under ‘Verification of identification’.

Return your completed form

Scan and email all requirements to hesta@hesta.com.au

or mail to: HESTA, Locked Bag 5136, Parramatta NSW 2124

Do proof of identity and/or linking documents need

to be translated?

If your proof of identity and/or linking documents are in a language

that is not understood by the person carrying out the verification,

they must be accompanied by an English translation prepared

by an accredited translator.

Have you changed your name or are you signing on behalf of another person?

If you’ve changed your name or are signing on behalf of the applicant, you’ll need to provide a certified linking document proving

a relationship exists between two (or more) names.

For a change of name you can request linking documents (eg Marriage certificate, Deed poll, Change of name certificate,

Divorce decree or Registered relationship certificate) from the Births Deaths and Marriages Registration Oﬀice.

If you are signing on behalf of the applicant, you will need to provide Guardianship papers and Power of Attorney documents.

Page 4 of 5

By signing this application for benefit payment, financial hardship, I am making the following statements:

1. The information provided and statements made on this form are true and correct to the best of my knowledge and belief.

2. I am an Australian or New Zealand citizen or a permanent resident of Australia and I am not a current or a former temporary

resident of Australia.

3. I understand that the payment of my benefit is not guaranteed, and the decision will be made by HESTA after receiving my

completed application and relevant supporting documentation and HESTA may request further information or documentation

from me to support my application.

4. I understand that if the fund does not hold my TFN, and I am under age 60, I may have additional tax deducted from my benefit

and the taxed component will be taxed at the highest marginal rate plus applicable levies.

5. I understand that any insurance cover I may have, will cease if I don’t have enough funds remaining in my super account to pay

insurance fees or upon full withdrawal of my benefit.

6. I understand that if my full account balance in HESTA is paid, the Trustee of HESTA shall be released from all claims, liabilities

and obligations in respect of my interest in HESTA.

7. I authorise my benefit to be paid by HESTA as instructed on this form. I am aware that I have the right to request more

information if required to understand my benefit entitlements in HESTA, including any fees and charges that may apply to the

benefit withdrawal.

8. I understand that unit prices will apply to the amount withdrawn on the day the withdrawal is processed from each investment

option my balance is invested in.

9. I understand if I have not provided evidence that I have been in receipt of Commonwealth income support payments (or that

evidence is more than 21 days old) that I will not qualify to access my benefits (only applicable if CRN has NOT been provided).

10. I have read and understood HESTA’s Privacy Collection Statement which is available at hesta.com.au/privacy or by calling

1800 813 327 and accept that the information on this form is true and correct to the best of my knowledge and belief. I consent

to my personal information being collected and used by the Trustee for the ongoing administration of my membership by the

fund administrator and other service providers.

8. Member declaration

I have provided my CRN in Step 4.

I understand that:

• Services Australia will disclose information to Australian Administration Services Pty Limited (AAS) based on whether I have been

in receipt of a qualifying Centrelink payment for a specified period to confirm my eligibility for early release of superannuation on

the grounds of financial hardship.

• Services Australia will disclose to AAS my personal information including my name, date of birth and payment status.

• This consent, once signed, remains valid while I am a customer of HESTA unless I withdraw it by contacting HESTA or

Services Australia.

• I can get proof of my circumstances/details from Services Australia and provide it to HESTA to confirm my eligibility for early

release of superannuation on the grounds of financial hardship.

• If I withdraw my consent or do not alternatively provide proof of my circumstances/details, I may not be eligible for the financial

hardship benefit payment provided by HESTA.

Centrelink Confirmation eServices Declaration

Member signature: Date signed:

Check here to see if you have provided us with the required information to assess your application.

I have completed application form in full and provided the relevant information in all sections and signed and dated the

member declaration on this form.

Identification documents attached or document details provided.

CRN in section 4 provided to verify my Centrelink income support payments payments or attach my letter from Centrelink.

Page 5 of 5

5208 01/24

Issued by H.E.S.T. Australia Ltd ABN 66 006 818 695 AFSL 235249, the Trustee of HESTA ABN 64 971 749 321. This information is of a general nature. It does not take into account your objectives,

financial situation or specific needs so you should look at your own financial position and requirements before making a decision. You may wish to consult an adviser when doing this. The

target market determination for HESTA products can be found at hesta.com.au/tmd. Before making a decision about HESTA products you should read the relevant Product Disclosure

Statement (call 1800 813 327 or visit hesta.com.au/pds for a copy) and consider any relevant risks (visit hesta.com.au/understandingrisk).

hesta@hesta.com.au | 1800 813 327 | Locked Bag 5136, Parramatta NSW 2124 | hesta.com.au

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