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Showing 1 - 10 of 69 results for "Early release scheme"

Long-term cost of super early release to be $85bn: SMC

CHLOE WALKER  |  FRIDAY, 1 MAR 2024
... could be expected to pay an additional $2900 in income taxes in today's dollars as a result of the COVID Early Release Scheme." SMC chief executive Misha Schubert said the financial toll of the scheme would cost both the people urged to withdraw their ...

Martin Fahy to step down as ASFA chief

CASSANDRA BALDINI  |  FRIDAY, 26 MAY 2023
... transformational and turbulent period in the sector. "... including the Protecting Your Super reforms, the COVID-19 early release scheme, the introduction of the Your Future, Your Super (YFYS) performance measures, and the legislated move to 12% Superannuation ...

Industry funds' illiquid assets scrutinised

ANDREW MCKEAN  |  THURSDAY, 11 MAY 2023
... market conditions," she said. "Notably, the funds passed the test handed down in early 2020 - including the Early Release Scheme introduced, the aggressive sell-off in listed markets, and the level of switching that occurred in response to volatile markets. ...

Early super release scheme a mistake: ISA

ANDREW MCKEAN  |  FRIDAY, 17 MAR 2023
... system played a crucial role in distributing payments quickly in the early days of the COVID-19 pandemic, the early release scheme had a detrimental impact on the retirement savings of many Australians. ASFA also pushed for a legislated objective for ...

Adviser banned over early release scheme

JAMIE WILLIAMSON  |  WEDNESDAY, 3 AUG 2022
An Adelaide financial adviser received a five-year ban for advising his clients to roll their super into newly established SMSFs to invest in a company he is a director of and then releasing the money to them in the form of a loan. Antonio Simeone is ...

Total super assets grow to $3.4tn

ANDREW MCKEAN  |  WEDNESDAY, 25 MAY 2022
... anticipated as lump sum benefit payments have reverted to longer term trends following the removal of the Early Release Scheme. APRA statistics laid bare the ramifications of the super early release scheme showing a relatively stable five-year trend ...

Superannuation assets hit $3.3tn

KANIKA SOOD  |  WEDNESDAY, 25 AUG 2021
... 5.3 per cent, and pension payments ($38.6 billion) declined 5.8 per cent representing normalisation to pre-Early Release Scheme levels," APRA said. APRA said it will release the Quarterly MySuper Statistics for the June 2021 quarter on August 31, along ...

Turnbull calls out Wilson, Bragg

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... housing market needs is firing up stronger demand." Additionally, Turnbull said the Morrison government's early release scheme, to allow Australians to access up to $10,000 from their super if they had been impacted by COVID-19, was also the wrong ...

Women need to rebuild super: AMP

ELIZA BAVIN  |  MONDAY, 8 MAR 2021
... AMP said over 80,000 of its women members accessed their superannuation savings, through the government's early release scheme, and withdrew a higher proportion of balances than men. "This money provided much needed assistance at a time of considerable ...

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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