I was paid $1,000 in super from my employer, why did I only receive $850 in my account?
Employer contributions into your super are taxed at 15% when received by Superhero Super. The net amount is available for investing.
Example: If your employer paid $1,000 into your super account, $150 will be paid to the ATO as tax on contributions. The remaining $850 will be available for investing.
If I make a contribution on 30 June will it be included in this financial year?
If your contribution can be successfully processed before 5pm on 30 June your contribution will be included in that financial year.
You must contact us, via live chat through our website or by email at super@superhero.com.au so we can advise if it is possible to process your contribution within our operating hours.
How do I submit a notice of intent to claim a tax deduction for personal contributions?
If you wish to claim or vary a deduction in relation to a personal contribution made to your Superhero Super account, you can download the Notice of intent to claim or vary a deduction for personal super contributions form available via the ATO website.
This form can then be submitted to us at super@superhero.com.au.Â
More information can be found here.
Can I withdraw money from my Superhero Super account?
Generally, access to your superannuation is only possible when you meet a condition of release.
If you have a Superhero Super account in accumulation phase, you are only able to withdraw funds from your account in special circumstances.Â
These include:
- Financial hardship
- Terminal illness
- Permanent or temporary incapacity
- Compassionate grounds
- First home super saver scheme
More information on early access to your super can be found via the ATO website.
If you have a Superhero Retirement or Transition to Retirement account, you are able to withdraw funds from your Superhero account.Â
For more information on the withdrawal types and amounts for these account types please read the Superhero Retirement Product Disclosure Statement.
How do I request a financial hardship benefit payment?
For details about accessing your super due to Severe Financial Hardship, or Compassionate Grounds please see the ATO website.
To request a withdrawal from your Superhero Super account due to a terminal illness, please complete the Withdrawal – Financial Hardship form available on our website.
Once completed, please submit the form and any supporting documents to us via email at super@superhero.com.au. Please note that payments may take up to 10 business days.
How do I request a terminal illness benefit payment?
For details about accessing your super due to a terminal medical condition, please see the ATO website.
To request a withdrawal from your Superhero Super account due to a terminal illness, please complete the Withdrawal – Terminal Illness form available on our website.
Once completed, please submit the form and any supporting documents to us via email at super@superhero.com.au. Please note that payments may take up to 10 business days.
How do I request a temporary or permanent incapacity benefit payment?
For details about accessing your super due to temporary or permanent incapacity, please see the ATO website.
To request a withdrawal from your Superhero Super account due to a terminal illness, please complete the Withdrawal – Temporary or Permanent Incapacity form available on our website.
Once completed, please submit the form and any supporting documents to us via email at super@superhero.com.au. Please note that payments may take up to 10 business days.
How do I request a departing Australia benefit payment?
For details about accessing your super because you are departing Australia, please see the ATO website.
To request a withdrawal from your Superhero Super account due to a terminal illness, please complete the Application for a departing Australia superannuation payment form available on our website.
Once completed, please submit the form and any supporting documents to us via email at super@superhero.com.au. Please note that payments may take up to 10 business days.
What types of withdrawals can I make from a Superhero Retirement account?
A Superhero Retirement account allows you to make two types of withdrawals from your account;
- Lump sum payments
- Regular income stream payments
More information on these payment types and limits, please read the Superhero Retirement Product Disclosure Statement or you can find more information via the ATO website.
If you wish to change your payment type, amount or frequency you can do so by logging in to your Superhero Retirement account and updating your preferences online or by completing the Change Payment Details – Retirement form and submitting your completed form to us at super@superhero.com.au.
What types of withdrawals can I make from a Superhero Transition to Retirement account?
A Superhero Transition to Retirement account allows you to receive a regular income stream payment from your account.Â
More information on these payment types and limits, please read the Superhero Retirement Product Disclosure Statement or you can find more information via the ATO website.
If you wish to change your payment type, amount or frequency you can do so by logging in to your Superhero Transition to Retirement account and updating your preferences online or by completing the Change Payment Details – Retirement form and submitting your completed form to us at super@superhero.com.au.
