Q: My superannuation is in a public fund. If I wanted to make an urgent withdrawal of my entire super balance (or a significant portion of it) as a lump sum from a retail or industry fund, how long is this likely to take? Are there any rules that state it should occur within a certain timeframe? I’m 83 and asking this from the perspective of someone who wishes to make an urgent withdrawal in the event of his death and who has adult children as likely beneficiaries. What if I were to pass away between the time the withdrawal was lodged and when the lump sum was paid? – John.

A: According to Craig Day, the head of technical services at Colonial First State, the best way to confirm withdrawal timeframes is to contact your fund or check your fund’s product disclosure statement, as different funds may have different processing times when it comes to withdrawals.