ASFA lobbies for extending super benefits to domestic violence victims
The Association of Superannuation Funds of Australia has said superannuation benefits should be made available to assist victims of domestic violence to enable them to leave the perpetrator and find a new place to live.
ASFA chief executive Martin Fahy said in many cases of domestic violence, the victim does not have access to funds to support them to leave the perpetrator and find a new place to live.
In a submission to Treasury on the early release of super, ASFA said it supported claims for the early release of super on compassionate grounds being extended to include domestic violence victims and suggested specific eligibility criteria be prescribed.
“In cases where a member wants to leave their partner and has limited or no financial resources, they should be able to access an amount of their superannuation to help them leave,” Dr Fahy said.
In its submission ASFA suggested that, where such a member had accessed domestic violence support services, including through the welfare system, they should be able to apply for early release of some of their superannuation.
ASFA recommended the amount released be restricted to a bond to obtain new accommodation, together with an amount for short-term living costs.
“Domestic violence is a significant issue in the community, so providing access to funds at such a critical time can make a real difference for victims seeking to escape the cycle of violence,” Dr Fahy said.
Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.
Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years.
Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.