FSC, super sector steps up for bushfire affectedBY HARRISON WORLEY | WEDNESDAY, 8 JAN 2020 12:49PM
Major players in the wealth management industry are taking steps to help those affected by the ongoing bushfires, with the crisis also sparking debate over whether early access to superannuation savings should be made available.Read more: FSC, ISA, Industry Super Australia, ATO, Financial Services Council, Financial Standard, Nick Coates, Nick Kirwan
Australia's superannuation sector is fighting a war on three different fronts, as the economic fallout of COVID-19 continues to bite.
Significant hikes in group insurance premiums have been put down to the Protecting Your Super reforms - with members of four superannuation funds facing premium increases of 34%.
APRA has asked superannuation funds to submit their in-house modelling on the magnitude of impact they are expecting from the Federal Government's special allowance for early release from superannuation.
Zenith Investment Partners wants to reverse out of its planned $12 million purchase of Chant West's superannuation business, saying the latter has been materially affected since February, but Chant West is digging its heels in.
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