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Showing 1 - 10 of 23 results for "Early Release of Superannuation Scheme"

Members lean on super for financial hardships

KARREN VERGARA  |  TUESDAY, 1 FEB 2022
... of financial hardship spiked in June 2020, thanks to government incentives such as the Early Release of Superannuation Scheme, reaching $826 million. The following financial year, some $658 million was released based on financial hardship. Meeting the ...

More work needed to end financial abuse

ELIZABETH MCARTHUR  |  MONDAY, 17 JAN 2022
... impact of coercive control in a violent relationship was starkly demonstrated in 2020 in the early release of superannuation scheme, with many women being coerced into accessing their super or having it fraudulently accessed by their domestic partner." ...

Unpaid super tops $5bn per year: ISA

JAMIE WILLIAMSON  |  THURSDAY, 28 OCT 2021
... Younger workers were also the cohort most likely to withdraw from their accounts under the Early Release of Superannuation scheme last year, with 82% of those who did being under 35 years of age. About 1.7 million men and 1.3 million women have been ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
... to superannuation scams resulting in over $6.4 million in losses, mostly prompted by the early release of superannuation scheme. Worryingly, it appears that people find it increasingly difficult to identify legitimate investment opportunities from scams. ...

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 ...

OPINION: Super for housing was the wrong policy fight

ALEX DUNNIN  |  TUESDAY, 11 MAY 2021
After the shock of the Early Release of Superannuation scheme's COVID-19 amendment, the superannuation sector can breathe a sigh of relief that government hasn't introduced a mechanism to allow members to divert their super savings into a deposit on ...

Super fund liquidity could be better: RBA

JAMIE WILLIAMSON  |  WEDNESDAY, 14 APR 2021
... funds' management of liquidity pressures throughout 2020, particularly the impact of the early release of superannuation scheme. However, the central bank said there is still room for improvement. With APRA having already called on funds to reassess ...

NSW pocketed $10bn from ERS

KARREN VERGARA  |  WEDNESDAY, 20 JAN 2021
More than one million New South Wales residents took advantage of the early release of superannuation scheme, withdrawing $10 billion, new analysis shows. Industry Super Australia looked at the popularity of the ER S scheme across suburbs and found ...

Crackdown on ERS scams continues

ELIZA BAVIN  |  MONDAY, 18 JAN 2021
... confidence in the security measures the ATO has in place to protect the integrity of the early release of superannuation scheme." The spokesperson added that the ATO's systems were never breached and the incidents were related to things like phishing ...

What you read in 2020

JAMIE WILLIAMSON  |  FRIDAY, 18 DEC 2020
... ATO to verify early release requests (March 31) Senator Jane Hume confirmed ahead of the early release of superannuation scheme opening that the ATO would be responsible for verifying member requests before requesting super funds release the funds to ...
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