Govt extends early access to super rule

Assistant Treasurer Josh Frydenberg said yesterday that the government would amend the relevant regulations to change the life expectancy period to 24 months.

It is proposed this change will take effect from 1 July 2015.

Under the current provision for early access to superannuation, a person with a terminal illness is required to obtain certification from medical specialists if they have less than 12 months to live.

“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,” Mr Frydenberg said.

This move follows representations by Breast Cancer Network Australia and other organisations.