In Australia, individuals facing mental health challenges or struggling with addiction can access their superannuation savings through the compassionate release of superannuation program. For those wanting treatment overseas, the program also allows for the release of superannuation on compassionate grounds.

The Compassionate Release of Super Program

The compassionate release of super program allows individuals to access a portion of their superannuation early. To qualify for the early release of superannuation for mental health and addiction treatment, applicants must provide relevant documentation from medical professionals certifying the necessity of treatment.

The program aims to provide much-needed financial support for individuals seeking mental health treatment and services such as addiction rehab.

Kathie Baker CEO, Release My Super

Eligibility Criteria

To be eligible for the compassionate release of super for mental health or addiction treatment, individuals must meet specific criteria, which will include an appropriate diagnosis of a mental health condition or addiction that requires treatment not covered or available in the public sector.

 

Compassionate Release for Treatment Overseas

The compassionate release of super program also allows individuals to access their superannuation funds for treatment overseas, including travel costs on medical and compassionate grounds. When seeking approval for international treatment, applicants must demonstrate both the need for treatment and the reason an overseas program is preferred to one located in Australia.

Steps to Apply for Compassionate Release:

  • Obtain certification: Obtain a diagnosis and treatment plan from a psychiatrist specialising in mental health or addiction and a general practitioner.
  • Complete required forms: Submit the Early Release of Superannuation Application form along with supporting documents to the Australian Taxation Office (ATO).
  • Await approval: The ATO will review the application and documentation provided to determine eligibility for compassionate release.
  • Access funds: If approved, the superannuation funds will be released to the applicant to cover the costs of mental health or addiction treatment.

Release My Super can assist with applications to release superannuation for treatment in clinics outside of Australia. Learn more at www.releasemysuper.com.au | +61 475 471 872

Accessing superannuation funds for mental health and addiction treatment can be a vital lifeline for individuals in need of support. By understanding the compassionate release of super program and following the necessary steps, individuals can access funds to prioritise their health and well-being.

  • It is important to understand the financial consequences of accessing superannuation funds to understand the long-term implications on your retirement savings.
  • Be prepared to provide detailed documentation and evidence to support your application for compassionate release.
  • Seek guidance from healthcare professionals and support services to ensure you receive appropriate treatment and ongoing care.

International Travel and Treatment Using Superannuation Savings

For individuals wanting treatment requiring international travel, accessing superannuation funds under the compassionate release program can provide the financial support needed.

Key Considerations

  • Clearly outline the reasons for overseas treatment and provide detailed documentation to support the urgency of the situation.
  • Keep track of expenses and ensure that the funds are used exclusively for the purpose approved by the ATO.

Accessing superannuation funds for addiction and mental health treatment under compassionate release can offer a lifeline for you. By following the necessary steps, providing thorough documentation, and adhering to guidelines, you can secure approval to utilise your superannuation.

Information in this article was provided with the support of Kathie Baker CEO, Release My Super