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Showing 121 - 130 of 543 results for %22Super early release%22

ERS costs big super funds

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
As applications for the early release of super (ERS) scheme slow down, the nation's biggest funds have taken the brunt of the payments. Of the $36 billion paid out so far, the 10 funds with the highest number of applications received from the ATO have ...

Reverse mortgages used to extinguish debt

KARREN VERGARA  |  THURSDAY, 26 NOV 2020
... relatively stable," the report read. Many of the loans had a median term of 7.4 years, while the mean is about five years for early retirees or those under 60 years old. This suggests that this cohort may have the loan as a transitional arrangement for ...

Super sneaks back to $3tn in assets

ELIZA BAVIN  |  TUESDAY, 24 NOV 2020
... September 2020 quarter, according to the latest statistics from APRA. Despite the effects of the government's early release of super scheme, coupled with market volatility and a sharp economic downturn, the super system has staged a comeback. Total contributions ...

Labor, unions, industry funds seethe

ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
The opposition party, Industry Super Australia (ISA) and unions have criticised the Retirement Income Review and say the super guarantee (SG) must rise. Labor leader Anthony Albanese said the government is looking for excuses to break its promises. ...

Australians drain $35bn from super

ELIZA BAVIN  |  MONDAY, 16 NOV 2020
Around $35 billion has been removed from Australians retirement savings as the governments' early release of super (ERS) scheme edges towards its close. Having opened in April this year in response to the immediate effects of the COVID-19 lockdown ...

Insurers must shape up on mental health: TAL

ELIZABETH MCARTHUR  |  THURSDAY, 5 NOV 2020
... the true cost and lack of support available to claimants. TAL, which is the group insurer for some of Australia's biggest super funds, produced a comprehensive white paper on mental health and life insurance in an effort to improve the industry's support ...

ATO prepares for end of ERS

ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
... Australian Taxation Office (ATO) has announced the end of year shutdown and program closure arrangements for the early release of super (ERS) scheme. Since April 3.3 million Australians have taken over $34 billion out of their retirement savings through ...

IOOF appoints executive, continues growth push

ELIZA BAVIN  |  THURSDAY, 29 OCT 2020
... executive Renato Mota said the broad ranging impacts of COVID-19 continued to affect flows, especially with the early release of super (ERS) scheme. "However, our scale, economic diversity and business strength contributed to the maintenance of a steady ...

Ask and you shall receive

ELIZA BAVIN  |  MONDAY, 26 OCT 2020
The latest APRA data for the government's Early Release of Super (ERS) reveals that 98% of applications received by the Australian Taxation Office (ATO) have been paid out by funds. The prudential regulator said that as at October 18, 98% of the applications ...

Bumpy quarter for AMP

KARREN VERGARA  |  THURSDAY, 22 OCT 2020
... continued to face into the disruption, remaining focused on supporting our clients through programs such as the early release of super, and by providing financial advice to those who need it." AMP's three-year turnaround strategy is now moving into ...