Accessing super for IVF treatment

In vitro fertilisation, known as IVF, is a procedure typically used by couples with fertility issues that may help them have a baby. It can be expensive but there are ways you may be able to get early access to your super to help with the cost. So how does that work?

Every year, thousands of people apply for early access to their super to pay for IVF treatment, according to the Australian Tax Office (ATO). But not every application was successful and there are a number of hurdles you must successfully jump to get early access to your super.

The ATO says you should first check first to see if your super fund even allows early access to your super.

To get early access to your super to help pay for any IVF procedure you must meet some specific criteria laid down under superannuation law.

That’s because super is meant to be savings to fund your retirement. The earliest you can normally access your super money is when you reach your preservation age, which is between 55 and 60, depending on when you were born.

But an ATO spokesperson told Canstar there are “specific and limited” circumstances where you may be able to get early access to some of your super money. This is known as the compassionate release of super.

When can I access my super early to pay for IVF?

You may be able to apply for compassionate release of super to help fund IVF costs if you meet certain eligibility requirements. You will need to provide specific evidence to accompany your claim, to show you meet the early release conditions.

The super rules say you may be eligible for compassionate release of super to pay for any necessary medical treatment where you have no other means of paying for those expenses.

The ATO spokesperson says the medical treatment must not be readily available in the public health system and the treatment is required to:

• treat a life-threatening illness or injury
• alleviate acute or chronic pain, or
• alleviate acute or chronic mental illness.

“Claims for compassionate release of super in relation to IVF procedures have been received on the grounds of alleviating acute or chronic mental illness,” the spokesperson says.

What evidence do I need for early access to super to pay for IVF?

You will need to provide a quote or unpaid invoice that details the unpaid expenses. The amount that can potentially be released from your super can only be used to meet unpaid medical expenses where you have no other means of paying them.

You also need to provide two medical reports with your application and one must be from a specialist treating one of the above conditions.

“The medical reports must state that the treatment in question is required to treat or alleviate one of these conditions above,” said the ATO spokesperson.

“If the person is suffering acute or chronic mental illness, then the accepted specialist medical practitioner would be a psychiatrist.”

The president of the Fertility Society of Australia and New Zealand, Prof Luk Rombauts, told Canstar: “Under current rules, infertility in itself is not sufficient grounds to be able to claim.

“The release of funds from super on compassionate grounds is only allowed in very specific circumstances. Some patients may suffer from co-existing conditions that may meet the requirements to allow withdrawals from super.”

That’s why the ATO says you need to show you meet those specific circumstances for compassionate release of super.

“There is no specific ground for the early release of superannuation for IVF treatment or IVF-related expenses,” the ATO spokesperson told Canstar.

“If a person does not require treatment to treat/alleviate one of the conditions [listed] above, then they cannot apply to access their super early on compassionate grounds.”

Should I apply for early access to my super for IVF?

The decision on whether to apply for any early release of your super for IVF is one you should consider very carefully. It will depend on your own needs and circumstances and you need to weigh up the pros and cons.

The potential pros of using super for IVF

The main advantage of gaining early access to your super for any IVF treatment is that you may be successful and have a baby.

Your chance of success with IVF depends on many factors including your age, your partner or donor’s age and the cause of any infertility, says the Australian Government’s Pregnancy, Birth and Baby website.

“That chance is higher if you are younger than 35 years old, and decreases as you get older,” it says.

The website says you should talk to your doctor or fertility clinic about your own chances of a successful pregnancy and birth.

The potential cons of using super for IVF

Your chance of success is also a potential disadvantage to gaining early access to your super.

“By age 44, the chance of success is about 1 in 100,” says the government website.

“Some women need five cycles of treatment or more to be successful, while others never become pregnant.”

Another disadvantage is that you’ll reduce the amount of money in the pot you’re saving for your retirement.

The Association of Superannuation Funds of Australia (ASFA) says taking out any amount of super early may have an impact on how much you have when you retire.

ASFA’s CEO, Dr Martin Fahy told Canstar: “It’s crucial that members understand that such a decision will have a significant long-term impact on their retirement outcome, and to first exhaust all other options before resorting to drawing down on superannuation.”

You might want to consider what options are available to make up any amount you’ve taken out of your super. For example, you may be able to make some voluntary contributions to your super, such as any salary sacrificing.

How to apply for early release of my super for IVF

If you feel you meet the early release conditions and can provide the required evidence, and you’ve considered the potential pros and cons, the ATO says you can apply:

• online via your MyGov account,
• or you can ask for a paper application form to be posted to you. Call the ATO on 13 10 20. The ATO says it won’t process your application via phone but you can call for help in completing your application.

There are some organisations that offer to help with an early access application but the ATO says if they charge a fee, they must be a registered tax agent. Any fees paid can’t form part of the claim for early access to your super.

Cover image source: bezikus/Shutterstock.com