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Showing 111 - 120 of 164 results for "ERS"

APRA releases latest ERS data

ELIZA BAVIN  |  MONDAY, 18 MAY 2020
APRA has released the newest ERS statistics for the week ending May 10, revealing funds have slipped in meeting the five-day deadline. The weekly report shows 94% of funds paid applications within five business days, down from 96% the previous week. ...

Few funds immune to ERS

ELIZABETH MCARTHUR  |  THURSDAY, 14 MAY 2020
Fears super funds with memberships concentrated in the industries hit hardest by the COVID-19 shutdown would feel the pain of early release more are proving largely unfounded, with funds of all kinds seeing withdrawals. While much speculation surrounded ...

Super must come together over cybercrime

HARRISON WORLEY  |  THURSDAY, 14 MAY 2020
... whether any more could be done to protect Australians. Early on, super funds were concerned of the dangers of fraud in the ERS initiative, raising concerns about increased levels of fraudulent activity as it was rolled out.

Industry funds revise ERS modelling

HARRISON WORLEY  |  WEDNESDAY, 13 MAY 2020
... balances. An ASIC missive caused the peak body for industry superannuation to reconsider how it calculated the impact of the ERS initiative on retirement balances of super fund members, a response to a Parliamentary Joint Committee on Corporations and ...

Majority of ERS applications from low balance accounts: AMP

ELIZA BAVIN  |  WEDNESDAY, 13 MAY 2020
Over 70% of ERS applications have come from members with account balances with less than $50,000, according to analysis from AMP. AMP said members working in the hospitality, arts, recreation, manufacturing and wholesale trade industries had highest ...

APRA releases fund-level ERS data

JAMIE WILLIAMSON  |  MONDAY, 11 MAY 2020
... chair Helen Rowell said the figures show super trustees understand the importance of paying people quickly. Processing of ERS application resumed as of yesterday after having been paused to allow for enhancement of ATO systems and to assist an Australian ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... extraordinarily popular scheme. In some respects, sadly popular." Sukkar added that there has been over 1.2 million applications for the ERS scheme which totals over $10 billion. "There's been one isolated incident where, I think it's fair to say, identity ...

Link feels impact of COVID-19

JAMIE WILLIAMSON  |  FRIDAY, 8 MAY 2020
... HESTA and Hostplus. Link said it has seen increased member activity, with contact centre volumes swelling as a result of the ERS, investment switching and an increased demand for advice. This increased demand has also seen the operating hours of Link ...

Trustee behaviour in a COVID-19 world

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... and 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
... pressure in March, raising their cash levels prior to the commencement of the government's early release scheme. "Since the ERS was first announced in late March, we have certainly seen significant selling pressure across the liquid assets such equities," ...