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Showing 51 - 60 of 162 results for "ERS"

ERS to lead to rising pension costs, higher taxes

ALLY SELBY  |  WEDNESDAY, 2 SEP 2020
Industry Super Australia has slammed the government's early release of superannuation scheme, arguing it will significantly increase the long-term Age Pension costs borne by taxpayers. Total retirement incomes will be substantially lower, it said, while ...

ERS withdrawals surpass $32bn

ELIZA BAVIN  |  MONDAY, 31 AUG 2020
... Retirement savings withdrawals have surpasses $32 billion since the introduction of the government's Early Release of Super (ERS) scheme. Over the week to August 23, 59,000 applications were received by funds of which 35,000 were initial applications ...

Female access to ERS to widen gender super gap

ANNABELLE DICKSON  |  FRIDAY, 28 AUG 2020
The Early Release of Superannuation (ERS) scheme is expected to impact female workers and widen the gender superannuation gap according to The Australian Institute of Superannuation Trustees (AIST) and Women in Super. New data shown at the annual Women's ...

COVID-19 may delay retirement: WTW

ELIZA BAVIN  |  THURSDAY, 27 AUG 2020
... The research, Impact of COVID-19 on Retirement Adequacy, looked at COVID-related factors beyond the Early Release of Super (ERS) scheme to include investment returns, switching behaviour and unemployment. The projections illustrated that the events of ...

Link suffers in COVID environment

ELIZA BAVIN  |  THURSDAY, 27 AUG 2020
... business running during COVID-19. " McMurtie said the business had done well to execute the government's Early Release of Super (ERS) scheme which was recently extended until the end of the year. "Our technology, scale and expertise have enabled us to ...

Super contributions rise despite ERS

ELIZA BAVIN  |  WEDNESDAY, 26 AUG 2020
... $33.6 billion, while lump sum payments out totaled $26.8 billion for the June quarter, up 77.7% from the March quarter due to ERS. Total contributions marked an increase of 17% from the March 2020 quarter ($28.7 billion) but 1.4% less than in the June ...

AIST calls for top-ups for low-income ERS recipients

ANNABELLE DICKSON, KANIKA SOOD  |  MONDAY, 24 AUG 2020
... superannuation balances of Australians who make less than $39,837 a year and genuinely accessed their superannuation under ERS, according to the Australian Institute of Superannuation Trustees. The body is recommending the government contribute to accounts ...

ERS applications slow

ELIZA BAVIN  |  MONDAY, 24 AUG 2020
Over $31.6 billion has been removed from superannuation since the start of the Early Release of Superannuation (ERS) scheme, but applications appear to be slowing down. In the week to August 16, around $600 million was paid out to members, down from ...

Suncorp wealth business down

ELIZA BAVIN  |  FRIDAY, 21 AUG 2020
... said its wealth business has been supporting members impacted by COVID-19 through the government's Early Release of Super (ERS) scheme. It said as at 30 June 2020, the wealth business has made approximately $99 million in ERS payments to around 13,000 ...

ACCC flags dangers of ERS

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 AUG 2020
The Australian Competition and Consumer Commission (ACCC) has told Financial Standard that the nature of superannuation scams is shifting, having seen a 55% increase in cases of identity theft. The ACCC's national scam awareness week this year is focussed ...