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Search ResultsShowing 1 - 10 of 100+ results for "ERS"
Many who accessed ERS unsure of impact: Research
ELIZA BAVIN  |  THURSDAY, 24 SEP 2020
... urgent short-term need for money is the main driver for people withdrawing their superannuation savings under the COVID-19 ERS scheme. The study, conducted by the ARC Centre of Excellence in Population Aging Research (CEPAR) and Cbus, revealed that many ...
ASIC extends advice, capital raising provisions
ANNABELLE DICKSON  |  THURSDAY, 24 SEP 2020
... capital raisings due to the uncertainty of the pandemic. The corporate regulator has extended the capped advice fees regarding ERS at $300, allowing advisers to provide a record of advice rather than a comprehensive statement of advice in this circumstance ...
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Cbus has argued the Early Release of Super (ERS) scheme has been detrimental to many Cbus members, having withdrawn their entire balance and seeing the cancellation of their total permanent disability insurance.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 ...
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