COVID-19 and your super

Last updated: 28 April 2020

Here are some of the latest updates on how we’re working to support our members throughout this challenging time.

On this page:

  • We answer some of the common questions being asked about market volatility
  • How to contact us
  • What to do about the new pension draw down rates
  • Temporary early release of super
  • How to get in touch with a financial adviser

How the market may affect you

As market volatility continues, it’s an important time to evaluate your long-term financial goals and understand the options you have if you feel your risk profile has changed. For the latest investment information, please refer to our Investments Q&A.

Here are some other helpful links and resources:

Get in touch

Call us on 13 64 63, Monday to Friday, 8am to 6pm AEST.

Are you looking for general information or need to return a form to us?

Contact us via and keep an eye on this page for the latest information.

In response to the Government’s latest measures around social distancing, we’ve made the difficult but necessary decision to close our offices to visitors for the time being. You can still post or email your documents, contact us via email or phone and check your account online at

Be aware of scams

There’ve been reports of COVID-19 related scams targeting Australians. Check out the Scamwatch website for more information about the type of scams, including examples and tips to protect yourself.

Further information

We’ll continue to provide updates via this page to support you.

Mine Super Financial Advice

If you’re feeling worried about the current short-term volatility and would like to discuss your circumstances and investment strategy, then personal financial advice may help. To ensure the health and safety of our staff and members, we can’t offer face to face appointments at the moment. You can still get in touch with someone from Mine Super Financial Advice by filling out the form below or calling our Contact Centre.

To get in touch with an adviser, simply fill out the following form.

Temporary early access of your super

The Government has announced temporary measures to support individuals impacted by COVID-19 to access some of their super early. Individuals will be able to access up to $10,000 of their super in 2019-20 and a further $10,000 in 2020-21.

If you’re eligible for this new condition of early release, you can apply directly to the ATO through the myGov website at You’ll be able to apply for early release of your super from 20 April 2020 and will need to provide documents to the ATO to confirm you meet eligibility criteria.

There may be other implications for withdrawing super down the line and so if you’d like to discuss this, please contact us. We've also put together a factsheet 'Early access to super if you're impacted by the Coronavirus' to provide you with more information or refer to the below frequently asked questions (FAQs).


FAQs | Temporary early release of super

How long will it take to get my money?
We’ll process your payment as quickly as possible. Generally, payment is made within five business days from the day we receive your approved application from the ATO. We’ll only contact you if we have questions or need further information in order to process the payment. Once we’ve processed the payment, you’ll receive a letter in the mail confirming the withdrawal.

Should I call Mine Super to make sure you have my application?
There’s no need to contact us as the ATO will let you know if your application is approved. You’ll generally receive confirmation within four business days via myGov. We receive approved applications daily from the ATO to process. If you call us, unfortunately, we won’t be able to confirm the exact date on which your payment will be made, however, generally payment is made within five business days from the day we receive your approved application from the ATO.

How will the ATO have the right balance for my account?
We’re regularly providing the ATO with current account balances as part of this process however, there may be variations as a result of any recent contributions or market volatility. You can also check your current Mine Super account balance via your online account. Please note: there may be some fluctuations in your account balance from the time we submit it to the ATO and you make an application.

What happens if my application results in my account having no money in it?
Your account will be closed. If you have insurance through your Mine Super account, your insurance cover will also cease when your account is closed.

Can I start a new account?
Yes. If you’re still receiving an income, then the next time your employer makes a super contribution on your behalf, a new account will be created for you. If you’re not working, you can still apply by completing the form via our website. You can activate the account by making a contribution. 

How much super can I withdraw?
If you’re eligible, you’ll be able be able to access up to $10,000 of your super in 2019-20 and a further $10,000 in 2020-21. 

Will my insurance be affected?
If you currently have insurance through your Mine Super account and withdraw money from your account, you need to consider whether you can continue to pay the insurance premiums from your remaining balance. If your balance gets too low and there’s not enough money in your account to pay the insurance premiums, we’ll let you know if this is happening.

Am I eligible?
The early release measure is specifically for people who are financially affected by the Coronavirus. To apply for early release you must satisfy any one or more of the following requirements:

  • You’re unemployed; or
  • You’re eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment (which includes the single and partnered payments), special benefit or farm household allowance; or
  • on or after 1 January 2020:
    • you were made redundant; or
    • your working hours were reduced by 20 per cent or more; or
    • if you’re a sole trader – your business was suspended or there was a reduction in your turnover of 20 per cent or more

I’m not eligible. Can I still access my super in a different way?
The government may let you access some of your super under certain circumstances, such as financial hardship and specified compassionate grounds. Check out this factsheet for more information.

How do I apply to access my super now?
If you’re eligible for the temporary early release measure, you must apply directly to the Australian Taxation Office (ATO) through myGov. You can do this from 20 April 2020. You can’t apply directly to Mine Super. You can make one application in the 2019-20 financial year and one application in the 2020-21 financial year prior to 24 September 2020, when this measure ends.

I don’t have a myGov account. Can I still apply?
If you’re unable to make an application online, you can call the ATO and complete your application over the phone.

Can accessing my super now impact my balance at retirement?
Accessing your super early is a big decision. Super is a long-term investment that typically rides the ups and downs of the market over your working life. To help you work out what impact withdrawing super today will have on your retirement income, use the MoneySmart superannuation calculator.

If you’d like to speak to someone from Mine Super Financial Advice about whether accessing your super now is the right move for you, you can call us on 13 64 63 to make an appointment.

What are the tax implications of accessing my super now?
You won’t pay tax on any money you take out of your super as part of this measure. You also won’t need to include it in your income tax return.

Can I add money back into my super?
Yes. You can top up your super by making a payment via BPAY or by asking your employer to make additional super payments (salary sacrificing arrangements may also be something to investigate). These are subject to annual caps on contributions.

Are there other options to help me through?
As part of the COVID-19 response, there are specific Government payments to help you. Check out the MoneySmart website for more information.

Pension account holders

Temporary reduction to minimum annual payment amount

To assist retirees, the Government has temporarily reduced the minimum annual draw down amount by 50% for the remainder of the 2019/20 financial year. These new rates will also apply in the 2020/21 financial year. All holders of account-based pensions and similar products are eligible for this. For more information on changing your pension payment amounts, check out this page.

Lower deeming rates

In addition, for people receiving or applying for an Age Pension entitlement, the deeming rates will be reduced from 1 May 2020, with the lower deeming rate reducing to 0.25% and the upper deeming rate to 2.25%. This means that you could see your Age Pension entitlement increase. You won’t need to apply for this as it will automatically be applied to your Age Pension entitlement.

For more information on these changes check out the Government factsheet

Having confidence in a steady and reliable income stream is of course, essential. If you have any questions or would like to discuss how your current or future pension payments are paid, then please get in touch via 13 64 63 or

Self-serve via your online account

We understand some of our members are currently making investment switches in response to market fluctuations. While it can be tempting to switch your super investment allocation in times like these, it’s important not to jump too quickly without assessing your personal financial situation. This is where getting personal financial advice can be helpful. If you do choose to switch your investments, please allow at least three business days for this change to be reflected in your online account. 

You can also log in to your online account to check your account balance and insurance cover. 


In the current environment and to protect the health and safety of staff, our Employer relationship teams are minimising site-based visits. If you’d like to discuss how Mine Super could provide support or guidance to your employees throughout this period of volatility, please contact us via or through your account manager.