Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 31 - 40 of 69 results for "Early Release Scheme"

Raiz Super bleeds red

ALLY SELBY  |  WEDNESDAY, 3 JUN 2020
... lost a further $2 million during the month of May, with Australians taking advantage of the government's early release scheme to preemptively access their retirement savings. Over the last three months, funds under management have fallen nearly 4%, with ...

ERS emerges as tax loophole for expats

ALLY SELBY  |  FRIDAY, 29 MAY 2020
The government's early release scheme has opened up a handy loophole for expats living in Australia, helping them withdraw their super balances tax-free. Normally, temporary Australian residents would face a 35% tax on the taxable component of their ...

Super release widens gender gap: AMP

ALLY SELBY  |  FRIDAY, 29 MAY 2020
The government's early release scheme is widening the gender superannuation gap, as a higher proportion of women draw down on their super savings to weather the COVID-19 crisis. The analysis, coming out of AMP, found that 21% of women were withdrawing ...

APRA quashes super liquidity concerns

HARRISON WORLEY  |  THURSDAY, 28 MAY 2020
... Thursday, APRA revealed superannuation funds haven't had any serious liquidity issues as a result of the Early Release Scheme, nor do they expect to. "Has APRA been contacted by or informed by any super fund that it has or anticipates having any liquidity ...

Super escapes COVID-19 hit

HARRISON WORLEY  |  WEDNESDAY, 27 MAY 2020
... not-for-profits are up 6.2%." Despite fears super funds would struggle to meet the demands of the government's Early Release Scheme, APRA's data shows funds were well stocked to battle drains on their liquidity. In the three months from December ...

Industry funds pulled back to the pack

HARRISON WORLEY  |  TUESDAY, 19 MAY 2020
... particular resulting from allocations to illiquid assets and the expected increase in benefit payments under the early release scheme - we now predict that SMSFs will again move significantly ahead of the other sectors." Though Rainmaker executive director ...

Super fund pays it forward

JAMIE WILLIAMSON  |  THURSDAY, 14 MAY 2020
... passing its government stimulus on to members who have been forced to withdraw from their accounts under the early release scheme. Future Super has decided it will pass on its government stimulus to members whose account balances have dropped below $10,000 ...

Few funds immune to ERS

ELIZABETH MCARTHUR  |  THURSDAY, 14 MAY 2020
... of members in sectors like tourism, hospitality and retail would fare, APRA's fund-level data on the super early release scheme showed funds with very diverse membership bases also had significant volumes of early release applications. Australia's largest ...

Super must come together over cybercrime

HARRISON WORLEY  |  THURSDAY, 14 MAY 2020
... to take a unified approach to dealing with cybercrime, in the wake of fraud attempts on the government's Early Release Scheme. According to Bower, a unified approach will help to protect the industry given the high number of parties involved in super's ...

Industry funds revise ERS modelling

HARRISON WORLEY  |  WEDNESDAY, 13 MAY 2020
... has been forced to revise the modelling underpinning their calculations of the impact of the government's Early Release Scheme on retirement balances. An ASIC missive caused the peak body for industry superannuation to reconsider how it calculated the ...