Superannuation / TPD (Total Permanent Disability)
A superannuation is a retirement fund in which regular contributions are made from a persons salary when they are working. Employers pay significant contributions at the rate of 9% per annum as long as the employee is earning at least $450 a month. A large majority of these funds have lump sum disability and death benefits and many people are not aware that they may claim compensation from them in the case of a partial and/or total permanent impairment or injury.
The general definition that entitles you to a superannuation lump sum benefit is "that you are partially and/or totally permanently disabled and unfit for your old job or any other suitable job that relates to your education training and experience".
If you are no longer able to work and no longer able to perform all duties of your usual occupation full time, you might be able to claim a lump sum benefit for your total permanent disability in addition to workers compensation or weekly or monthly superannuation payments being paid to you already. For more information or help regarding superannuation payments contact PK Simpson today.
What you need to claim
You might be able to claim superannuation and insurance disability payments and death benefits if:
- You were working and your employer was paying compulsory superannuation, as well as suffering from any injury or illness that has prevented you from working for 6 consecutive months (including a total permanent disability);
- You have entered into a private contract of insurance for income protection or total permanent disability insurance;
- A person that you are dependent on (like your partner or parent) dies and you wish to claim death benefits from the deceased superannuation fund or private insurer;
- You are under 60 or 65 years of age (this depends on your policy).
Following the difficult time of a death or disability within your family superannuation and disability insurance benefits may help to ease your financial burden. Individual policies do vary in matters of the level of coverage, the waiting period, and the length of time benefits are
What P.K Simpson can do for you
PK Simpson can help un-complicate this process for you and ensure that you get the best result possible.
We can help to:
- Undertake all investigations to determine the superannuation or total permanent disability benefits that are available to you;
- Plan how your case will proceed in order to achieve the best outcome;
- Gather the evidence needed for the superannuation or total permanent disability claim (such as from your doctor);
- Keep you informed of important developments as the case proceeds;
- Make an initial assessment of your superannuation or total permanent disability claim;
- Assist you in dealing with powerful opponents such as insurance companies;
- Investigate the possibility of resolving your superannuation or total permanent disability claim; and
- Make recommendations on court proceedings and settlement offers.
An experienced lawyer can take the stress out of your hands, whilst still keeping you in the loop about your superannuation or total permanent disability case. Let us handle everything at PK Simpson lawyers.
To view our frequently asked questions for superannuation, please click the link below.
Most people who work will have contributions of their salary paid into a retirement fund. What a lot of people don't know is that many of these funds include insurance cover for sickness, or situations that prevent you from working full time or at all.
If you've been unable to work for 6 months or more due to any medical reason call us today.