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Showing 81 - 90 of 168 results for "ERS"

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. ...

Stimulus, ERS pushes spending up 17%

ELIZABETH MCARTHUR  |  TUESDAY, 21 JUL 2020
New research has demonstrated the impact of the government's stimulus package and early release of superannuation program, with a sharp uptick in consumer spending. The data from illion and AlphaBeta, part of Accenture, found consumer spending in Australia ...

ERS payments approach $30bn mark

ELIZA BAVIN  |  MONDAY, 20 JUL 2020
Applications for the Early Release of Super (ERS) scheme have hit $28 billion, with funds having so far paid out $25.3 billion since the start of the scheme. APRA's data shows that since the launch of the ERS scheme is April this year, over 2.8 million ...

ERS sees 300,000 repeat applications

ELIZA BAVIN  |  WEDNESDAY, 15 JUL 2020
... high volume of applications as the second tranche opened. In total, over $19 billion has been removed from super since the ERS scheme opened with over 2.7 million applications received. The total value of applications has topped $23 billion, however ...

ERS surges $7bn in a week

ELIZA BAVIN  |  WEDNESDAY, 8 JUL 2020
... payments and Treasury has had access to the advance numbers. "The larger point is that most people applying for this round of ERS are likely to be older because the younger folks who dominated the first round have probably cleaned out their accounts," ...