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Showing 1 - 10 of 100+ results for "ERS"

ERS applicants $3100 worse off

KARREN VERGARA  |  THURSDAY, 20 MAY 2021
Members who raided their retirement savings as a result of the early release of superannuation scheme could have been $3100 better off than if they had kept their balance intact, new research reveals. The McKell Institute, a thinktank, found that over ...

Stapling will benefit Hostplus: David Elia

KANIKA SOOD  |  WEDNESDAY, 19 MAY 2021
... Conference of Major Superannuation Funds panel this morning. Hostplus paid out just under 10% of the total early release of super (ERS) withdrawals. Elia said the ERS withdrawals reminded the fund of the diversification of its member base. "The insights ...

Aged care workers depended on ERS: Research

KARREN VERGARA  |  WEDNESDAY, 19 MAY 2021
Aged care employees relied more on the early release of superannuation (ERS) scheme compared to other workers health and community services sectors, research from HESTA reveals. The proportion of HESTA members who work in aged care and childhood education ...

Aussies regret ERS withdrawals: AIST poll

KANIKA SOOD  |  TUESDAY, 18 MAY 2021
... nearly 3.5 million Australians withdrew about $36.4 billion from their superannuation accounts across the two tranches of ERS, which the government used as part of its economic revival package. Scheerlinck's speech also called attention to four other ...

OPINION: Super for housing was the wrong policy fight

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
... streams has so profoundly reversed that we are back to where we were eight years ago, albeit part of the surge may be due to the ERS. If this trend doesn't slow and turn around fast, it won't be long before serious pressure mounts and retirees will only ...

ERS spending revealed

ELIZABETH MCARTHUR  |  WEDNESDAY, 21 APR 2021
... week. Over 1.3 million households contained someone receiving the Coronavirus Supplement of $550 per fortnight." The COVID-19 ERS scheme allowed up to $10,000 to be accessed before retirement for people suffering financial hardship. People could access ...

ASIC praises super trustees

ELIZA BAVIN  |  TUESDAY, 23 MAR 2021
... of COVID-19. "Several websites had inaccurate or incomplete information about insurance eligibility in superannuation if an ERS payment resulted in a low account balance," it said. "Overall, funds' communications approach and information on the ERS ...

Pandemic boosts scam complaints

ANNABELLE DICKSON  |  THURSDAY, 11 MAR 2021
... Australians over $6 million. Untersteiner noted that superannuation funds worked with AFCA to resolve consumer concerns over the ERS. "Scams were growing before COVID-19 but the pandemic has accelerated this trend," Untersteiner said. The data showed ...

ERS disproportionately impacted women

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 MAR 2021
... Rest, which has the most female members of any super fund in the country, found that for those who made withdrawals under the ERS program the gender gap in super balance increased. Women between the ages of 30 and 39 had balances an average of 15.6% ...

Stimulus, ERS boost financial comfort

ELIZA BAVIN  |  MONDAY, 1 MAR 2021
The government's stimulus spending, and reforms like the early release scheme, have boosted Australian financial comfort to record highs despite the impact of COVID-19. The ME Bank Household Financial Comfort Index improved by 2% to 5.89 out of 10 during ...
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