If an account has been established for you in accordance with instructions received in a court order or an agreement with your former partner who is a Mercy Super member, you can make a cash withdrawal (if eligible) from your account or rollover part or all of your super to another super fund.
You can also choose to leave your entitlements in the Mercy Super account that has been established for you – the choice is yours.
If you’re looking to withdraw your Mercy Super entitlements established as part of a family law arrangement, you will need to provide us with the details of your former partner’s Mercy Super account details to help us validate the entitlements.
NOTE: If you want to retain your benefit with Mercy Super, you don’t need to complete the Family law payment instructions form (an account will be automatically set up for you as part of the split instructions).
Your super is a long-term investment designed to support you in retirement. Because of this, there are strict rules that govern when you can access your super which are known as a condition of release. You are eligible to make a cash withdrawal when you:
Your preservation age is generally between 55 and 60, depending on your date of birth. The table below provides your preservation age according to your date of birth.
|Date of birth||Preservation age|
|Before 1 July 1960||55|
|1 July 1960 to 30 June 1961||56|
|1 July 1961 to 30 June 1962||57|
|1 July 1962 to 30 June 1963||58|
|1 July 1963 to 30 June 1964||59|
|1 July 1964 or after||60|
If you’re eligible and are looking to make a cash withdrawal from your super, you will need to provide certified proof of your identity along with a copy of your bank statement to demonstrate that the account receiving the payment is in your name along with your completed Family law payment instructions form.
This is to make sure the instructions are coming from you and any payment is being made to a bank account in your name.
To enable us to rollover part or all of your Mercy Super account to another super fund you will need to provide a completed Family law payment instructions form with the following details for the other super fund:
In addition if you intend to rollover to a registered Self-Managed Super Fund you will also need to provide a copy of evidence of a bank account in your fund’s name (such as a bank statement).