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Showing 71 - 80 of 162 results for %22ERS%22

Cyber criminals jump on ERS

ELIZA BAVIN  |  TUESDAY, 4 AUG 2020
Reports of cybercrime increased significantly after the government announced the Early Release of Superannuation (ERS) and JobKeeper schemes, according to the Australian Competition & Consumer Commission. ACCC chair Rod Simms told the joint committee ...

ERS continues super drain

ELIZA BAVIN  |  MONDAY, 3 AUG 2020
The Early Release of Superannuation (ERS) scheme continues to drain the super system, with almost $30 billion removed from Australians' retirement savings, according to the latest APRA data. Over the week to July 26, super funds made payments to ...

Spend your money how you please: PM

ELIZA BAVIN  |  FRIDAY, 31 JUL 2020
... government's place to tell Australians how to spend the money they have removed from super due to the Early Release of Super (ERS) scheme. Speaking at a press conference Prime Minister Scott Morrison said the only person who can decide how to spend the ...

IOOF increases FUMA, lifts remediation costs

ANNABELLE DICKSON  |  THURSDAY, 30 JUL 2020
... client sentiment is particularly apparent through withdrawals associated with the Early Release of Superannuation scheme (ERS) and subdued flows in financial advice," he said. "Providing the community with guidance and support is at the core of IOOF. ...

Queenslanders drain super: ISA

ELIZA BAVIN  |  WEDNESDAY, 29 JUL 2020
... Industry Super Australia (ISA) claims 27% of Queenslanders with a super account have accessed the Early Release of Super (ERS) scheme; the highest proportion in the nation. ISA said over 145,000 Queenslanders have wiped out their retirement savings all ...

Life insurance needs to prove value

ANNABELLE DICKSON  |  WEDNESDAY, 29 JUL 2020
... State Super has seen an increased appetite for members to review cover. On the other hand, the Early Release of Super scheme (ERS) is causing problems for life insurance cover and is leaving people exposed. "We have been proactive with members who have ...

Hume calls out ERS fake news

ELIZABETH MCARTHUR  |  MONDAY, 27 JUL 2020
At the Financial Services Council Life Insurance Summit Senator Jane Hume has said "fake news" about consumers losing life insurance due to the early release of super has irritated her. Hume said consumers would not lose life insurance policies held ...

Repeat ERS applications hit one million

ELIZA BAVIN  |  MONDAY, 27 JUL 2020
Over one million Australians have accessed the second tranche of Early Release Super as over $28 billion has been removed from the system. Over the week to July 19, 219,000 applications were received, of which 56,000 were initial applications and 163,000 ...

Early release of super extended

ELIZABETH MCARTHUR, KANIKA SOOD  |  THURSDAY, 23 JUL 2020
... savings until 31 December 2020. In a press conference, Treasurer Josh Frydenberg confirmed the extension would go ahead. The ERS extension will cost the government $2.22 billion over the forward estimates, it said. The rules remain similar: people accessing ...

Super fund COVID-19 requirements to remain

ANNABELLE DICKSON  |  THURSDAY, 23 JUL 2020
... regulator to conduct an ongoing assessment of the impact of the coronavirus and the government's early release scheme (ERS) on superannuation licensee and provides insight into member switching, investment options, foreign currency exposure and hedging. ...