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FAQs: Early release of super due to COVID-19

June 30, 2020

For any COVID-19 early release enquiries, please contact us at earlyrelease@futuresuper.com.au. ‍

When do applications close?

Applications for the COVID-19 early release of super will close at 11:59pm on 31 December 2020. If you wish to receive your money before Christmas, applying through ATO online services in myGov by 11 December 2020 should allow enough time for your payment to be processed.

The ATO will be closed from midday 24 December 2020 until 9am 4 January 2021. If you have difficulty applying online through the ATO during this time, you can call them on 1300 662 211 from 10:00am to 6:00pm between 29 and 31 December 2020. For more information on key dates, please visit the ATO website.

Our office will be closed from 1pm Thursday 24 December and will reopen at 9:30am Monday 4 January. Our Member Advocacy team will still be available from 10am-3pm between 29-31 December to assist with COVID-19 early release claims and other urgent enquiries.

Why did I get an email or text message saying that there has been an issue processing my payment?

There are a few potential reasons why your payment may not have worked:

  • Have you opened your Future Super super account recently? Rollovers to Future Super generally take between 3 and 7 business days (and rollovers from the ATO can sometimes take longer), so if you applied for an early release payment around the time that you signed up with Future Super, you may not have a balance with us yet.
  • Have you rolled over to another fund recently? If so, you may not have an active account with Future Super, and you should contact your other fund to find your money.

Please get in touch at earlyrelease@futuresuper.com.au and we will look further into why your payment has failed
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When will I receive my money?

If it is less than 8 days since your application was approved by the ATO, it is likely that it is still being processed.

‍We will send you a text message and an email when we make your payment.‍

If it has been longer than 8 days since your application was approved by the ATO and you have not received your money, email us at earlyrelease@futuresuper.com.au and our team will see what’s causing the delay.‍

Where will my money be paid?‍

You provided your bank account details when making your application with the ATO. We will make the payment to that bank account.

I received a text saying that my payment has been made, but I don’t see it in my account. Where is it?

It can take up to 5 business days for a payment to reach your account.

If you still haven’t received your payment after 5 business days, please email us at earlyrelease@futuresuper.com.au so we can ensure you have provided the correct bank account details when you applied.‍

I gave the wrong bank account details to the ATO. How do I change them?‍

We need to confirm your identity before we can make the payment to your correct bank account. You need to send us:

  • A photo of your driver’s licence (the photo must be clear, and the details on your licence must match our records)
  • A selfie of you holding your driver’s licence (this photo must be clear enough for us to read what is on your licence)
  • A copy of your bank account statement (that shows the correct bank account details, and matches your ID details)

Please email these documents to earlyrelease@futuresuper.com.au. 

Please note: We can only change your details if you discover your error and provide us with the correct details before the payment is made. However, If you discover your error after the payment has been made to the wrong bank account, we should still be able to reverse the payment and pay it using the correct details. Please be patient with our team while we work to retrieve your money.‍

What if I no longer need my payment and want to cancel it?‍

Please get in touch with us and we can put in a request to cancel your payment. If the payment has already been processed by our accounts team, however, we are unable to reverse it.‍

Please note: if you decide to cancel your payment, you will be ineligible to make another early release application until after 1 July 2020. If your application was made after 1 July 2020 and you cancel your payment, you may no longer be eligible for another payment.‍

Am I eligible to receive a COVID-19 early release payment?

Please refer to this article for more information on eligibility requirements.

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