Super members ease off COVID-19 queries

superannuation/super-funds/superannuation-funds/amp/john-perri/

16 June 2020
| By Jassmyn |
image
image
expand image

Superannuation members have diverted their attention to rebuilding their balances from COVID-19 related issues, according to AMP. 

AMP’s data on its financial adviser clients found that during the month of May, queries on voluntary concessional and non-concessional super contributions were the most common topic dealt with by advisers. This was compared to April when advice on early access to super was most in demand. 

Calls about COVID-19 stood at 9% in May, well down from the 24% in April. 

AMP said the top client issues dealt with by advisers in May 2020 were: 

  • Concessional super contributions; 
  • Non-concessional super contributions; 
  • Dealing with a death benefit; 
  • Concession cards; and 
  • Early release of super. 

AMP technical strategy manager, John Perri, said: “Not everyone has the funds to contribute more to super at the moment, but it’s encouraging to see more Australians turning their minds to rebuilding their superannuation and retirement balances. 

“Recently introduced changes, such as the relaxation of the rules on concessional contributions, are encouraging people to make additional contributions where they can.” 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 4 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND