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Showing 51 - 60 of 168 results for "ERS"

ERS tab hits $33.3bn

ALLY SELBY  |  MONDAY, 21 SEP 2020
The government's early release of superannuation scheme has paid out $33.3 billion since its inception, with an additional $340 million disbursed over the week to September 13 alone. During the week to September 13, super funds received 42,199 applications ...

Legalsuper appoints executive, increases premiums

JAMIE WILLIAMSON  |  MONDAY, 14 SEP 2020
... in funds under management. legalsuper chief executive Andrew Proebstl told Financial Standard that while the impact of the ERS scheme is at the lower end of the scale, there have been some lower balance members that have wiped out their savings, reducing ...

ERS applications flat line

ELIZA BAVIN  |  MONDAY, 14 SEP 2020
... appears to be thinning out, but another resurgence is not off the cards. "About one-quarter of the workforce has applied for an ERS. Regardless what you think of the policy, it's been stunningly popular, showing how important it's turned out ...

ERS sees Cbus members forfeit TPD cover

ANNABELLE DICKSON  |  FRIDAY, 11 SEP 2020
Cbus has argued the Early Release of Super (ERS) scheme has been detrimental to many Cbus members, having withdrawn their entire balance and seeing the cancellation of their total permanent disability insurance. Speaking at the House of Representatives ...

Majority of ERS applications double dippers

ELIZA BAVIN  |  MONDAY, 7 SEP 2020
The majority of payments made through the government's Early Release of Super (ERS) scheme have been double dippers, according to the most recent APRA data. In the period from the scheme's inception until end of financial year, 2.54 million applications ...

Super remains grossly inequitable: Per Capita

ELIZA BAVIN  |  WEDNESDAY, 2 SEP 2020
... contribution into super for low income earners. Women in Super chair Cate Wood said the impacts of COVID-19, including the ERS scheme, has disproportionally impacted women, widened the retirement gender gap and required specific gender analysis and recovery ...

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 ...