Yes, it may be possible to withdraw funds from your Mercer Super, particularly under specific early access conditions, although superannuation is generally preserved for retirement.
Understanding Early Access to Mercer Super
Accessing your superannuation before retirement age is typically restricted, but Mercer Super allows for early withdrawal under certain circumstances. These instances are considered exceptions to the general rule that super funds are preserved until you reach your preservation age and meet a condition of release.
If you meet the specific eligibility criteria, you may be able to access a portion of your super balance.
Withdrawal Limits and Conditions
When eligible for early access, withdrawals from Mercer Super are subject to specific financial limits within a defined period:
- Minimum Withdrawal: You can withdraw a minimum of $1,000.
- Maximum Withdrawal: You can withdraw a maximum of $10,000.
- Timeframe: These withdrawal limits apply within any 12-month period.
It's important to understand that these withdrawals are contingent on meeting "certain conditions" as outlined by Mercer Super. These conditions are typically related to specific financial hardship, compassionate grounds, or other situations that Australian superannuation law permits for early release.
For detailed information regarding eligibility criteria and the application process for early access, it is recommended to visit the official Mercer Super website: Accessing your super early | Mercer Super
