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Can you work again after receiving a prior TPD payout ???

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Wardie, 28th Nov, 2012.

  1. Wardie

    Wardie New Member

    27th Nov, 2012
    Albury Nsw
    TPD payout
    Hi, I'm new to this forum and was wondering if anyone can tell me if you have received a TPD payout are you aloud to return to work at a later date ?
    I had a major back operation and was classed as permanently disabled with a lot of hard work and determination I have improved in my condition and would like to start thinking about returning to the workforce is this aloud ?
    Also can anyone give me some advice on what superannuation is a good company to go with ?
  2. Superman

    Superman Well-Known Member

    6th Nov, 2007
    Gold Coast, QLD
    Hi Wardie

    Wow - good effort on getting back on track after being declared permanently disabled - inspirational.

    To my knowledge, there is no restriction on returning to work after a TPD payout - assuming a lump sum payment was made in the past.

    Likewise in regards to super - once you trigger the permanently disabled condition of release, you can access super benefits regardless of age, however any future contributions will still likely be untouchable until retirement (please note currently there are different definitions between super and insurance - even if the insurance is within super - weird I know).

    You may need to look at other benefits you may be getting as they will obviously be impacted by a return to work.

    In terms of an appropriate super fund.....there are so many and it depends on what you want to do investment wise - if you have a small balance then it may be worthwhile keeping the employers default super fund for a while to give you time to find one suitable. You should be able to find one with fees under 1%

    All the best