ASK THE EX­PERT

The Sunday Times - - BUSINESS WEEKLY -

Q I am 28, not in a good fi­nan­cial sit­u­a­tion and would like to clear my debts. Is there a way to access my su­per? I have about $20,000 in my fund. A The Gov­ern­ment gives su­per tax con­ces­sions in the hope that you will have so much su­per­an­nu­a­tion when you re­tire, you won’t need to get the aged pen­sion. This is why early with­drawals have been made de­lib­er­ately very dif­fi­cult. One re­quire­ment is that you have been on un­em­ploy­ment ben­e­fits for a con­sid­er­able length of time, or else can prove ex­treme fi­nan­cial hard­ship. This could in­clude be­ing about to be evicted from your house be­cause you can­not make the mort­gage pay­ments.

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