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Search ResultsShowing 1 - 10 of 18 results for "Early Release Super"
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 ...
HESTA asks Retirement Income Review to consider ERS
KANIKA SOOD  |  FRIDAY, 19 JUN 2020
... urgently consider the impact of the early release superannuation scheme on women's retirement outcomes. "The early release super scheme has provided vital short-term assistance for our members but if urgent action is not taken these young women risk ...
No change of mind for ERS
ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
The Australian Taxation Office has said members who change their mind over the Early Release Super scheme will not be able to withdraw their applications. In an update to its Design and Implementation document the ATO outlined that only where there ...
Super funds release $1.3bn
ELIZA BAVIN  |  MONDAY, 4 MAY 2020
APRA has released the first Early Release Super (ERS) figures, showing $1.3 billion has been paid to members in the first week of the scheme. Under APRA's Early Release Initiative (ERI) data collection, superannuation trustees were asked to submit data ...
APRA questioned on fund liquidity
ELIZA BAVIN  |  WEDNESDAY, 22 APR 2020
... The questions come after ongoing concerns about super funds ability to release members money through the Early Release Super scheme in response to COVID-19. Bragg said he wants to know when the regulator last asked funds to self-assess their liquidity ...
Super funds need to act like banks: PM
ELIZA BAVIN  |  FRIDAY, 17 APR 2020
... comes at a time when many funds are already under pressure due to liquidity issues and the government's early release super scheme . A number of funds have devalued their unlisted assets in response to the effects of the global pandemic, leading ...
APRA-regulated fund or SMSF: It's all the same
ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... been a huge amount of focus on industry super funds. From concerns over liquidity issues, impacts of the Early Release Super scheme and drastically volatile markets, major funds have been hit time and time again. But, what about SMSFs? According to Rainmaker ...
ERS can be drawn from multiple funds: ATO
ELIZA BAVIN  |  THURSDAY, 16 APR 2020
The Australian Taxation Office has clarified the rules for the Early Release Super scheme , allowing members to withdraw super from multiple funds. The ATO said while a member can only apply for one determination per financial year, they are able to ...
ATO to verify early release requests
ELIZA BAVIN  |  TUESDAY, 31 MAR 2020
Senator Jane Hume has confirmed the Australian Taxation Office will be responsible for verifying early release super requests. Hume, the assistant minister for superannuation, financial services and financial technology, told the AFR Wealth Summit the ...
Super funds raise scam concerns
HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
... they could to de-fraud Aussies of their super savings. "Unfortunately, as we've seen before with any early release super measure, there are unscrupulous operators who take advantage of people in financial hardship either through outright fraud in ...
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