early release of super

Superannuation

Budget confirms end to domestic violence early release

The Government has made it official by stating in the Budget that early release superannuation will not be allowed with respect to domestic and family violence....

Superannuation

Did 5% of super early release applicants empty their accounts?

New data has emerged suggesting as many as 5% of early release superannuation applicants entirely emptied their accounts while just 10 superannuation funds paid around 68...

Superannuation

Early release of super scheme hits $35.9b

There were a further 21,000 superannuation members who applied for the early release of their super in the week before the scheme ended, with 31% representing repeat appl...

Policy & Regulation

Have politicians been guilty of providing unlicensed advice?

The Australian Securities and Investments Commission is again being asked whether politicians have been guilty of providing unlicensed advice over their urging of people ...

Superannuation

Early release to address housing issue will increase prices by $50k

The proposal for the early release of superannuation to address housing affordability by the Master Builders does nothing to address the supply side constraints at the he...

Superannuation

Industry funds hit Morrison on using super as cheap income support

The Federal Government has been accused of abrogating its responsibilities by using early release superannuation as income support – something which is expensive for supe...

Superannuation

1 million repeat early access to super applications

The total number of repeat applications for the Government’s super access hardship scheme has reached one million with an average payment of $8,619, according to data....

Superannuation

The super funds taking the multi-billion dollar hits from early release

Superannuation fund members returning to access the $10,000 second tranche of the Government’s hardship early release superannuation regime have dominated the latest Aust...

Financial planning

ASIC faces parliamentary scrutiny

The Australian Securities and Investments Commission is facing tough questioning around how it has handled a number of issues amid the disruption of COVID-19....

Financial planning

APRA confirms second tranche early release surge

The Australian Prudential Regulation Authority has confirmed a surge in second tranche early release applications, with many members lining up for a second dip. ...

Superannuation

ATO approval of early release ‘no rubber stamp’

Members who have accessed hardship early release superannuation should understand that they may be audited by the Australian Taxation Office to determine whether they wer...

Superannuation

Trustees take 1.6 days to pay early super release

During the first week of the early super release payments scheme trustees paid members $1.3 billion, according to data....

Financial planning

How financial planning around super will likely change

Lower superannuation fund returns over the long term may see financial planners forced to change their traditional advice model around superannuation, particularly for th...

Financial planning

ISA survey points to early access super rorters

New survey data commissioned by the industry funds suggests that up to a million people seeking early access to their superannuation are actually ineligible because they ...