Terminally ill to get access to super

12 May 2015

Amanda Davey

Terminally ill people who have been told they have fewer than two years to live will be granted early access to their superannuation from July.

Under current rules, access to super is available only if the patient has been given fewer than 12 months to live.

But Assistant Treasurer Josh Frydenberg says this is impractical.

"Understandably, they want access to their money as they may experience significant financial burden associated with treatment costs or want to make the most of their time with their family,” he says.

"While this is a small regulatory amendment, it will make a big difference to the lives of those affected and that is why the Government has decided to act."

Amanda Davey