COVID-19 and your super

Find out more about how we can support you (or your employees) if your super or pension was impacted by COVID-19.

Many Australians have been financially impacted due the COVID-19 global pandemic. While Australia is on the road to recovery, we are still facing some uncertainty as a community as we rebuild and adjust.

For over 30 years we’ve been supporting our members through all of life’s ups and downs. And we’re still here to help you reach a comfortable, financially secure retirement.

If made redundant

Super members

Rebuilding your super after COVID-19

If you had early access to your super early or had a break in contributions and are wanting to boost your super, our team is here to help.

You can start with our guide to rebuilding your super balance.

And if you accessed your super because of Covid-19, please read this important information regarding the potential impact on your insurance cover and account.

Ongoing financial hardship

Everyone's financial situation is different. While Australia is on the road to economic recovery, some industries were more significantly impacted than others.

The ATO is no longer accepting applications for early release of super due to COVID-19.

If you are experiencing financial hardship, you may be able to access your super on other grounds. Please see the Accessing your super page for details or call us on 1300 361 784 to talk through your options.


Financial decision making

MoneySmart has developed a step-by-step program to help people with a variety of financial decisions due to COVID-19. Topics include accessing your super, financial assistance, debts, mortgages and financial assistance.

We're here to help

Call and speak with an adviser today. It’s at no additional cost and our advisers can help you understand your options, what you need to consider before making any changes and provide a personal recommendation on topics like which investment option to choose, super contributions or starting a Super Income Stream.

Advice Services are ready to take your call from 8:30am to 6pm Monday to Friday (AEDT/AEST), Call us on 1800 640 886 (option 4) to get the ball rolling or visit mediasuper.com.au/advice

Cbus Super Income Stream members

In March 2020, the Federal Government temporarily reduced minimum annual pension drawdown amounts. These reductions have been extended for the 2021-22 financial year to 30 June 2022. Please see the Super Income Stream payments page for full details of the drawdown amounts that currently apply.

If you have any questions about the minimum drawdown change or your SIS account generally, please call us on 1300 361 784

Employers

If your employees were financially impacted during COVID due to reduced hours – and therefore reduced super contributions – our team can help. We can visit your workplace and talk to your employees about how to boost their super savings and get their retirement income back on track.

Contact your local Business Development Manager to discuss your options and arrange a visit.