Early super numbers jump

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.