Releasing Australian Superannuation

[Khutan]

I know this is a little off-topic, but it is related-ish.

I have happily discovered I have a nice amount of Super in an Australian Fund, that I obviously want to invest here and have some direct control over.

Has anyone been successful in getting an early release of their Australian Super to invest here ?

I had a look at the websites - it looks very complicated.

[TizMe]

From my understanding, if you are an Australian citizen then you have no hope. If you are a foreign national that had but no longer has Australian residancy then you can get it early.

[GuestHouse]

Let me get this right - Superannuation that you hold in Australia - Protected under Australian Law and that will provide you with a secure income in retirement.

And you want to take it out of Australia and invest it in Thailand.

The mind boggles.

[cdnvic]

Let me get this right - Superannuation that you hold in Australia - Protected under Australian Law and that will provide you with a secure income in retirement.

And you want to take it out of Australia and invest it in Thailand.

The mind boggles.

Don't let the incomplete freeways fool you. Thailand's economy will expand faster than Australias in the next 20 yrs.

If it's home why not invest and contribute?

cv

[GuestHouse]

Don't let the incomplete freeways fool you.

It's not the Freeways across the country that would concern me but the Freeway into other people's money that the Thai legal system permits.

Thailand's economy will expand faster than Australias in the next 20 yrs.

Indeed it will, but it will also go through major restructuring so its not so much all growth as growth in some areas and decline in others - Nothing new, this happens everywhere, but who would gamble their pension on getting the guess right?

If it's home why not invest and contribute?

Remember the old maxim - Do not invest what you can't afford to loose.

Perhaps I'm the odd one out but I can't afford to loose my pension savings.

[Khutan]

Let me get this right - Superannuation that you hold in Australia - Protected under Australian Law and that will provide you with a secure income in retirement.

And you want to take it out of Australia and invest it in Thailand.

The mind boggles.

<{POST_SNAPBACK}>

Well yes, as I don't live in Australia any more, my interest in Finance sector and Investment is diminishing day by day.

I know the fund I am in is "eating" my retirement investment, so by the time I reach the age I can withdraw the funds, there will be very little left. I just felt investing it here makes better sence.

[Patong Bob]

How old are you ? Are you retired ? Are you receiving Centrelink payments ?

All these things affect whether or not you can access your super....

[Khutan]

How old are you ?  Are you retired ?  Are you receiving Centrelink payments ?

All these things affect whether or not you can access your super....

<{POST_SNAPBACK}>

I am 41, cannot retire (too young) and not getting anything from centrelink - I don't live in Australia.

[Patong Bob]

It used to be (4 1/2 years ago when I retired from Centrelink), that six months on benefits would allow you to get your super released on the grounds of hardship. I wrote many of those letters.

Hardship, I believe, will get your money released, how you would prove it from here I don't know. Have you contacted your super fund and asked them ? If it is a Union run fund you have a much better chance of getting it. Otherwise, is it worth going home for six months on the dole ?

Check what the current situation is, this government is screwing pensioners and superannuants non- stop. Good luck.

[Nignoy]

If you are not contributing to your super, the management fees will slowly eat its way throughyour lumpsum, if you are over the age of 52, you get a letter from centrelink declaring you are retiring from the australian workforce,this you send to your fund managers and your lump sum should be payed out within 10 days, this even works combined with certain UK superannuation scheme contributions as well, sadly not with german ones ,you have to wait till you are 63 to withdraw those early, hope this helps, nignoy