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Showing 221 - 230 of 344 results for "Early Release"

CBA sells 55% of CFS

JAMIE WILLIAMSON  |  WEDNESDAY, 13 MAY 2020
... reported the CFS 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% ...

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
... given 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 ...

ISA, ME Bank issued please explain

ELIZABETH MCARTHUR  |  MONDAY, 11 MAY 2020
... on some legacy home loans with limited notice to customers. Also up for discussion will be ISA's calculations on early release of super. ISA published research claiming that an early withdrawal of $20,000 by a 30-year-old could mean missing out on $97,214 ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... financial advice amid the uncertainty of COVID-19 has soared, while the company has also had to deal with the new early release of superannuation rules. "At the end of April AMP received approximately 50,000 requests for the early release of super," ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
Deputy Treasurer Michael Sukkar confirmed the ATO has paused requests for early release being sent to super funds, as the AFP investigates identity theft. Speaking to Sky News this morning, Sukkar emphasised that the ATO has not been compromised and ...

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
... scrutiny from the Australian Taxation Office 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 ...

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 ...

Early release applications top $9bn

ELIZABETH MCARTHUR  |  THURSDAY, 7 MAY 2020
As more than $9 billion in super is requested for early release, Australia's largest superannuation fund has paid out over $1 billion, with funds for the industries hardest hit by COVID-19 not far behind. Australia's largest fund, the $185 billion ...