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Monies stuck in Ausfund it’s not Super

I put money into a Super fund for my Autistic daughter thinking because she was working she needed it. She doesn’t make enough money so consequently she doesn’t need it. It got transferred to Ausfund and I have been trying to get it released so it can go into her savings account. It’s not much money but they are charging admin fees. Can anyone help me. Thank you in advance.

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Everything you should need to know and do is explained on this page.

https://ausfund.com.au/why-was-my-super-sent-to-ausfund

That puts it back into a new super account. I can not advise on what it will require to release/withdraw the funds from a super account but note the special provisions for accounts with under $200 balance for being sent to a bank account in lieu.

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If your Daughter does have her own Super fund (compulsory Super contributions should be being made from her employment) then getting the Ausfund amount transferred to that Super will cut the cost of extra Admin Fees. I don’t know how much is “not much” but once it is over $200 (as @PhilT noted) it needs other circumstances to be able to be withdrawn and not in a Fund. These reasons are very limited including only Death, Retirement, and Financial Hardship (currently COVID-19 exemptions still apply so this may be an avenue to explore).

Generally Super Funds are better earnings than savings accounts and for your Daughter having such a Fund (even if you have to keep funding it) may be a very good option for her later years. I suggest you might get some Financial Advisor advice about what might be the options available to you and your Daughter, particularly about her future financial wellbeing.

The following article may be worth reading:

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Thank you for your very in depth prompt reply. Much appreciated.

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