![](https://elaa.org.au/wp-content/uploads/2023/04/Accessing-super-illegally-NP.png)
26 AprSuperannuation – caring about your future
The following information has been provided by the Australian Taxation Office (ATO).
Your superannuation can only be accessed early under very limited circumstances. It’s important to know all the rules, otherwise your retirement savings could be at risk.
It is illegal to access your superannuation early when you don’t meet a ‘condition of release’. If you do, you could be hit with huge penalties.
You also need to be aware of people who offer to help you access your super early. These people, also known as ‘promoters’, are targeting workers in the childcare industry. They may tell you they can set up a self-managed super fund (SMSF) in your name so you can access your super to buy a house or go on a holiday.
But this is also illegal.
If you are approached by a promoter, report it to the Australian Taxation Office (ATO) as soon as possible. The ATO has released a helpful factsheet to educate childcare workers on the dangers of illegally accessing super.