Super members ease off COVID-19 queries



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.”
Recommended for you
Wrapping up the reporting season for the 2024–25 financial year, Money Management rounds up the results of Australia’s listed platforms.
Investment platform Praemium has announced an integration with fund services firm Clearstream’s platform into Praemium Spectrum, expanding advisers’ access to global funds and greater operational efficiency.
Financial services firm Akambo has rebranded itself as an investment management and asset consulting business after almost two decades of operation, targeting $20 billion in assets under management.
Big four bank Westpac is seeking to expand the BT Panorama investment offering through strategic alliances as well as launching a low-cost offering.