early access to super

Financial planning

Only 6% of Australians are looking to top up their superannuation with their income tax cut money, indicating those that needed to access their super early used it as a w...

Superannuation

Early access scheme impacted adequacy, sustainability, integrity

The COVID-19 early release superannuation scheme has forced people to choose between poverty now or poverty in retirement, the Australian Institute of Superannuation Trus...

Superannuation

Every single super dollar counts to avoid Age Pension

It is now even more critical for the superannuation guarantee to lift to 12% as COVID-19 has left many young Australians unemployed, according to a super body....

Superannuation

Industry funds warn Govt not to use Retirement Review as stalking horse

The Retirement Income Review should not be used as a stalking horse for dangerous policies such allowing low income earners to opt out of superannuation or use their bala...

Policy & Regulation

ISA welcome ATO clamp-down on early release misuse

Industry Super Australia has backed the Australian Taxation Office’s promised crack-down on the misuse of early release superannuation, particularly with respect to tax m...

Superannuation

Fund reveals how ATO revoked early release requests

A major industry fund, LUCRF has revealed the manner in which the Australian Taxation Office has at first approved hardship early release superannuation requests and then...

Superannuation

The 10 super funds which paid half of all early release payments

Ten big superannuation funds have been revealed as going the heavy lifting on superannuation hardship early release....

Life/Risk

TAL and AustralianSuper provide life cover for members with empty accounts

Those members of AustralianSuper who empty out their superannuation accounts via the Government’s hardship early release scheme will continue to have life cover worth $10...

Financial planning

ASIC bundles advisers in with early release scammers

Financial advisers have been lumped in with people the Australian Securities and Investments Commission alleges are involved in inappropriate behaviour around superannuat...

Superannuation

The slowest funds to pay early access

Almost all of BT’s Advance Retirement Suite early access to super payments have taken between six to nine days, according to Australian Prudential Regulation Authority (A...

Superannuation

Early release fraud – members will pay

Superannuation funds may not have been responsible for the $150,000 early release fraud being investigated by the Australian Federal Policy but their members will ultimat...

Financial planning

Early super access ROA now digital

The FPA has partnered with three fintech providers to allow advisers provide early super advice more efficiently....

Superannuation

Financial hardship payments up 200 times

An estimated 855,000 early release of superannuation payments have been made totalling $7.1 billion by 30 April, according to an industry body....

Financial planning

Industry groups create ROA template for early super access

FPA, SMSFA, CA ANZ, CPA Australia and IPA financial adviser and registered tax agent members have been provided a template record of advice for clients looking to access ...

Superannuation

Young, low balance members dominate early release

With the average early release superannuation draw-down standing at slightly over $8,000 and with the load spread across virtually superannuation funds, the industry is h...