Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Calls for early super access for family violence victims

HESTA/family-violence/super/

19 June 2017
| By Jassmyn |
image
image image
expand image

Health and community services sector industry superannuation fund, HESTA has called for early access of up to $10,000 of superannuation for victims and survivors or family violence under compassionate grounds.

HESTA chief executive, Debby Blakey, said urgent action was needed as on average at least one woman a week was killed by a partner or former partner.

“While early access to super is currently possible to stop the bank selling your home, pay for a dependant's funeral or get medical treatment under compassionate grounds, this is denied in instances of family violence,” she said.

“We think it’s entirely appropriate that super regulations extend compassion to victims and survivors of family violence to empower women with the financial means to escape abusive relationships.”

Blakey said responsibility for improving financial and other family violence support services rested with all levels of government and accessing super should be an interim “band-aid” measure.

“We urgently need a nationally coordinated response to family violence. While it’s encouraging that the Victorian State Government now provides financial support of around $7,000, having the financial capacity to leave a violent relationship shouldn’t depend on where you live in Australia,” she said.

“Women already retire with almost half the super of men, and they shouldn’t have to use their super for this purpose. But family violence is one of the rare situations in which short-term financial needs are more compelling than the need to preserve superannuation for retirement.”

 

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 week 5 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

2 weeks 5 days ago

So we are now underwriting criminal scams?...

6 months 3 weeks ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

2 weeks ago

A professional year supervisor has been banned for five years after advice provided by his provisional relevant provider was deemed to be inappropriate, the first time th...

3 weeks 6 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

2 weeks 4 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
3