Early super numbers jump

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.

Early super numbers jump
Early super numbers jump
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.