When bigger is better
When the federal government announced the superannuation early release scheme in March, it gave people reason to look at their retirement savings and take charge. As at August 30, $32.6 billion had been released to 4.3 million super accounts with an average payment of $7680.
While the super industry accepts Covid-19 has caused financial hardship for many of its members, it’s also been at pains to point out the long-term implications of accessing super early.
David Atkin, chief executive at Cbus, told a media roundtable on June 30 that his fund is trying to make sure members are aware of the significant ramifications.
“By accessing super they are robbing their futures to pay for the now ... they’re going to
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