In the weeks leading up to the COVID-19 crisis and its dramatic impact on markets, the majority of Australians believed their superannuation fund would protect their retirement savings from a downturn, according to new research from leading global pensions and investment adviser Russell Investments. The research comes as fear around the erosion of Australia’s retirement... Read more continue reading
26
May
2020
New data from Colonial First State (CFS) reveals switches by super members were three times the usual rate in March as a number of Australians moved their superannuation to cash in the midst of the coronavirus impact on markets. Thirty nine per cent of members who switched their super, switched to cash. Against this trend,... Read more continue reading
07
May
2020
Early release of super was the topic most frequently asked about by advisers’ clients during March and April as the government sought to limit the fallout from the Coronavirus, according to new figures from AMP’s technical adviser support team. The next most asked about issue was minimum pension drawdowns as the government relaxed the rules... Read more continue reading
05
May
2020
The Coronavirus Economic Response Package Omnibus Act 2020 (“the Act”) received assent on 24 March 2020. Schedule 13 of the Act amends the SIS regulations to make provision for COVID-19 temporarily early release of superannuation. Application for this early release must be made within the period of 6 months starting on the day the new regulation... Read more continue reading
03
Apr
2020
When the Family Court orders are finalised, the parties might think that it’s all over, but when it comes to super-splitting there’s considerably more to do. With one in three marriages in Australia likely to end in divorce, the splitting of interests in a Self-Managed Super Fund has raised a number of questions. Under the... Read more continue reading
01
Apr
2020
History has taught us that share market falls are inevitable. What is harder to predict is when they’ll occur. 9/11, the dot-com bubble and, more recently, the GFC, triggered significant declines. Just like Coronavirus, few, if any, saw those events coming and their impact on global markets. The full impact of Coronavirus remains to be... Read more continue reading
20
Mar
2020
Given all the talk about the dreadful bush fires you’d be forgiven for thinking victims could access their super to help with their recovery. Think again, as Elizabeth Wang reports. Robert and Mary have been affected by the devastating bushfires. They are struggling financially and are wondering whether it is possible to withdraw some of... Read more continue reading
06
Mar
2020
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