An offer to help you get your superannuation money early might seem like a great idea. But if you agree to it you could end up in a lot of trouble.
Accessing your super before age 55 (at the earliest) is illegal except in very limited circumstances. Don't be tempted to accept an illegal offer. Find out how super scams operate so you can protect your retirement savings.
How super scams operate:
The scammers say they can withdraw your super or move it to a 'self-managed super fund' so you can pay off your debts or use the money for something you really want.
Once your super has been withdrawn or transferred, the scammer then takes a large commission or may even steal the entire amount for themselves.
By agreeing to the scam, you risk losing your hard-earned super savings. You may also unintentionally get caught up in tax penalties as a result of taking your super early. The scammers may even get you to sign false statements, exposing you to fines.
Please for more information about superannuation scams.