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Rest pays out $1bn, calls for policy certaintyBY JAMIE WILLIAMSON | THURSDAY, 21 MAY 2020 12:44PM
Having now paid out more than $1 billion to members, Rest is calling on the government to implement stable super policy settings, warning uncertainty constrains funds' ability to invest for the long-term.
Read more: Rest, Vicki Doyle
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The earlier than expected easing of restrictions in Australia that defrosted social and commercial activity has had its desired effect - rebounding business conditions and confidence, and the feared one - a second wave.
Around 300,000 Australians lodged their second application to access their super early at the start of the new financial year.
Spaceship chief executive Andrew Moore says its managed investments business has been the "single, strongest" source of growth for its $300 million superannuation fund.
Nine industry funds are working with Frontier Advisors to probe new longevity risk products for retiree members, which could include tweaking account-based pensions.
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