Published: 19 Jun 2017
Industry Super Australia is supporting a call to include family violence as a condition for early access to superannuation.
The proposal, from health employee super fund HESTA, recommends that family violence and financial abuse be added to Superannuation Industry Supervision Regulations (1994) as compassionate grounds.
This would then allow superannuation savings to be used to pay for goods or services related to the provision of support for a person experiencing domestic violence or financial abuse.
Industry Super Australia public affairs director Matt Linden said: "Governments must properly resource support for women escaping family violence”.
“When state-funded support fails, allowing access to super in special circumstances could mean the difference between someone seeking vital help or not," he said.
The proposal will go through a comprehensive consultation process with domestic and family violence support groups.
One in four Australian women have experienced domestic violence.
Current compassionate grounds for early release of superannuation include: mortgage payments, medical treatment, palliative care and a dependent's funeral costs.
Matt Linden is available for comment. Media contact: Phil Davey 0414 867 188
Industry Super Australia provides policy, research and advocacy on behalf of 15 not-for-profit Industry SuperFunds who are the custodians of the retirement savings of five million Australians.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.