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Showing 1231 - 1240 of 3210 results for "Scheme"

Bigger balances, bigger blow: Elia

JAMIE WILLIAMSON  |  THURSDAY, 2 APR 2020
... it's the super funds with higher average account balances that should be worried about the impact of the early release scheme. Hitting back at public commentary suggesting the fund will be disproportionately impacted by the government's early ...

Super fighting a war on three fronts: KPMG

HARRISON WORLEY  |  THURSDAY, 2 APR 2020
... effectiveness, and insurance all simultaneously competing for attention. As a result of the government's Early Release Scheme (ERS), super funds find themselves implementing the means to fulfil their new responsibilities to members, while also finding ...

BGH Capital, Canadian pension fund shelve NZ acquisition

KANIKA SOOD  |  WEDNESDAY, 1 APR 2020
... have or will be stood down but some practices may operate to offer emergency services. The two parties terminated their scheme implementation agreement, with no breaking fees. Abano's board now intends to engage with BGH and the Canadian pension ...

Hume calls for diversity in super fund mergers

HARRISON WORLEY  |  TUESDAY, 31 MAR 2020
... Hume's comments come as the sector grapples with the liquidity considerations posed by the government's Early Release Scheme (ERS), which will see eligible Australian's allowed to withdraw up to $10,000 from their super savings this financial ...

ATO to verify early release requests

ELIZA BAVIN  |  TUESDAY, 31 MAR 2020
... approval process and make it easier for funds and members to navigate. Hostplus chief executive David Elia said the ERS scheme was well intentioned and would assist members who had lost jobs and found themselves in financial difficulties. "We support ...

Chief economist update: Great Scott! Mighty Mo to the rescue

BENJAMIN ONG  |  TUESDAY, 31 MAR 2020
... need to meet." That cost has increased after the Morrison government's announcement of a $130 billion wage subsidy scheme to keep us, Australians all, in our jobs. According to the AFR, "this equates to "6.65 per cent of GDP. Total fiscal stimulus ...

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... "Stormified" clients were encouraged to continue investing. It was deemed by ASIC to be an unlawful managed investment scheme with which Commonwealth Bank, Macquarie Bank and Bank of Queensland were involved. At the time of collapse, about 3000 of its ...

Super funds raise scam concerns

HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
... is considering applying for early release superannuation under the new financial hardship provisions should be aware the scheme does not commence until mid-April." Scheerlinck said super fund members should use the time before the measure officially ...

ATO called to assist in early release super scheme

ELIZA BAVIN  |  THURSDAY, 26 MAR 2020
... Australian Taxation Office to play a role in spreading the impact of withdrawals from the governments early release super scheme, estimating it will see $25 billion pulled from super. The government announced it will allow workers affected by the COVID-19 ...

Industry funds face reality of COVID-19 shutdown

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 MAR 2020
... eventual recovery in investment markets," Elia said. "To date we have had very very little, a handful of inquiries. The scheme does not come into operations until circa mid-April." He also said the early releases could pose administrative issues for ...