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Showing 1181 - 1190 of 3209 results for "Scheme"

Majority of ERS applications from low balance accounts: AMP

ELIZA BAVIN  |  WEDNESDAY, 13 MAY 2020
... the hospitality, arts, recreation, manufacturing and wholesale trade industries had highest rates of applications for the scheme. AMP said it received 52,379 applications from clients in the first two weeks since the scheme launched, releasing approximately ...

CBA sells 55% of CFS

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAY 2020
... FirstChoice Superannuation Trust paid out more than $180 million to 22,529 members as part of the early release of super scheme to May 3. The CFS Rollover and Superannuation Fund paid out close to $6 million to 628 members. About 6% of the total payments ...

Industry fund reshuffles leadership

ELIZABETH MCARTHUR  |  TUESDAY, 12 MAY 2020
The $11 billion industry fund for the coal mining sector, Mine Super, has a new deputy chief executive and a new chief risk officer. Vasyl Nair has transitioned from chief risk officer to deputy chief executive. Nair had been chief risk officer at the ...

APRA releases fund-level ERS data

JAMIE WILLIAMSON  |  MONDAY, 11 MAY 2020
APRA has released fund-level data showing the progress of the early release of super scheme, with 96% of requests being met within five business days. However, several funds have taken far longer. APRA's figures to May 3 show 830,000 payments were ...

Government delays RC implementation timeline

HARRISON WORLEY  |  MONDAY, 11 MAY 2020
... the pandemic has placed additional demands on super funds, particularly in the rollout of the government's Early Release Scheme. "Superannuation funds have dedicated their focus towards effectively delivering the vital services their members need at ...

ASIC delivers thinly veiled warning

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... because they may be issued by entities that are not well-capitalised, not protected by the Government's Financial Claims Scheme, and not supervised by the Australian Prudential Regulation Authority (APRA)," the regulator said. "Some are also backed by ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... referred to the AFP, a case of identity theft essentially, where bogus claims have been put through the early release of super scheme," Sukkar said. "This has been an extraordinarily popular scheme. In some respects, sadly popular." Sukkar added that ...

Link feels impact of COVID-19

JAMIE WILLIAMSON  |  FRIDAY, 8 MAY 2020
The early release of super scheme has seen more than 5% of the accounts Link Group administers close. It comes as the group rolls out optional pay cuts to its leadership team. In a presentation to the Macquarie Australian Investors Conference yesterday ...

Trustee behaviour in a COVID-19 world

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... they're set to face some tough penalties if they assist in the illegal early release of super. Under the government's ERS scheme, a number of key issues face SMSF trustees and navigating those issues can be complex, as the ATO releases new information ...

How early release impacts the ASX

ALLY SELBY  |  THURSDAY, 7 MAY 2020
With more than one million people applying for the government's early release scheme, questions surrounding super fund ownership in equity markets have come to the fore. The government's scheme will so far put at least a $9 billion strain on Australia's ...