early release

Financial planning

COVID-19 resurgence still top concern for financial advisers

COVID-19 continued to be top of mind for advisers and their clients in the September quarter, according to BT Financial Group....

Superannuation

Super shouldn’t be a ‘cookie jar’ to dip into

As Senator Andrew Bragg calls for open access for super, Aware Super has reiterated calls for a clear industry objective to be in place....

Superannuation

Early super access used for mortgage payments

Far from embarking on spending sprees, the majority of those who accessed their superannuation early used the funds for paying off household bills or mortgages, according...

Policy & Regulation

ASIC delivers another relatively clean sheet on intra-fund advice

Superannuation funds did not misuse intra-fund advice with respect to either early release superannuation or insurance, according to the Australian Securities and Investm...

Policy & Regulation

Accountants back industry funds on early release recontributions

CPA Australia has not only backed industry funds on urging the Government to use the Budget to allow early release superannuation top-ups but has also backed funding a th...

Superannuation

The super funds which took the biggest early release hits

Ten superannuation funds experienced outflows in excess of a billion dollars as a result of the Government’s COVID-19 hardship superannuation early release regime, with i...

Financial planning

Industry funds cite early release backing for intra-fund advice extension

The Australian Securities and Investments Commission need only regulate in the same terms it did for early release superannuation advice to extend intra-fund advice, acco...

Superannuation

323% increase in super scam reports

2020 was the year of the Government’s hardship early release superannuation scheme and it was also a year during which the Australian Competition and Consumer Commission ...

Superannuation

Early release headed towards $38 billion

When the Government’s early release superannuation scheme comes to an end, 10 funds will have made over 60% of the payments, most of them being industry funds....

Superannuation

APRA confirms super early release did impact super fund liquidity

Some superannuation funds have been confirmed as having faced a liquidity squeeze as a result of the Government’s early release superannuation regime while some members l...

Superannuation

Early release impact $8.50 per week: mSmart

Superannuation members who took advantage of the early access to super scheme could tilt their investment strategy instead of making extra contributions to recover their ...

Superannuation

Hume talks of third early release tranche

Less than 24 hours out from the tabling of the Federal Budget, the Assistant Minister for Superannuation, Senator Jane Hume, has spoken of a third tranche of superannuati...

Superannuation

Will the Budget deliver an early access third tranche?

A pause in the superannuation guarantee at its current 9.5% is looking almost certain in next month’s Budget and no one is ruling out a further extension to hardship earl...

Superannuation

How some people paid nearly $300 for free super early release

At least two companies were warned by the regulator to stop charging fees ranging from $199 to $299 for facilitating superannuation early release when the process is mean...

Financial planning

Many early release recipients shunned comprehensive advice

Hostplus openly offered members comprehensive advice around the Government’s hardship early release scheme but most only wanted general advice about how it worked and how...