Frequently Asked Questions

Will I Lose My Super?

No. Your superannuation in an approved fund that you have accumulated over time is not available to your bankrupt estate – it is protected for your retirement.

If you are at retirement age, it is important that you do not access funds from your superannuation fund prior to becoming bankrupt. If you do, you will lose those monies to your bankrupt estate as they will no longer have the protection of being held by an approved superannuation fund.

Once you have the protection of bankruptcy, you can safely receive funds from your superannuation fund and the monies you receive are protected - not available to your bankrupt estate. Whats more, assets you purchase with those monies are also protected and not available to your bankrupt estate.

Persons who are bankrupt and at retirement age can access monies from their superannuation fund to save their home or buy a 4WD and caravan to go around Australia.

We are here to help. If you have any questions please give us a call on 1300 764 197 or email hello@understandingbankruptcy.com.au

Further Reading: We recommend our article Bankruptcy and Your Superannuation which can be accessed here and our article Wages Super and Spending which can be accessed here.

Ask Us A Question

Give us a call on 1300 794 492
Alternatively, you can leave us a message and we will get back to you as soon as possible