Cashing in Superannuation?

Question

Ive recently receive a letter about a supperannuation I had about 5 years ago. I have forgotten all about it. I have a choice of transferring it to another super. But is it possible to cash it in...its only about $300 ...I have people saying yes i can but others not sure..I do remember doing a casual work long time ago and I was able to get the small super that they contributed..( I think that was my super)

Answer 1

Unless you are in serious financial need or you reach the age of 60 years and not working full time, or leaving the country for good, then you can not cash it in.  Transfer it to another fund.

Answer 2

try to call the company and they can give more information on your question ..good luck

Answer 3

depends on the policy, usually you can not cash it in but some will let you

Answer 4

Actually, you can only cash in Superannuation if it's in the amount of less then $100 worth, that simple.  I had to put a claim through for a guy I worked with...he was casual, and all up through this one job had only accumulated less the $90.  Essentially you have to transfer it, or you could leave it in the current fund, but that would cost you fees for nothing....

Answer 5

As it is such a small amount you probably can cash it in. However you may find that it is worth more if you transfer it to another super fund. Its not going to make a lot of difference either way.