The early super release scheme has continued to see massive uptake.
Over the week to 10 May, super funds made payments to 390,000 members – bringing the total number of payments to 1.19 million since inception.
The total value of payments over the week was $2.7 billion and $9 billion since inception, while the average payment since inception is $7,546.
The number of new applications has declined since the scheme's inception: 662,000 applications were received for the week ending 26 April; 1.08 million applications were received and 809,000 applications were paid during the week ending 3 May 2020; and 1.33 million applications were received and 1.19 million applications were paid to the week ending 10 May.
More to come.
The corporate regulator has issued a consultation on its new breach reporting reforms for licensees, saying the new rules will correct “prolonged an...
Financial services minister Jane Hume has conceded the implementation of the FASEA reforms has had a devastating effect on the business environment fo...
Two-fifths (42 per cent) of people who aren’t currently advised have indicated they will be more likely to see an adviser now than before the pandem...
Get notifications in real time and stay up to date with content that matters to you.
