Superannuation News

Federal budget 2020: job switchers to automatically keep super accounts

Australians will have their super accounts “stapled” to them as they move jobs, but concerns have been raised that workers could find themselves trapped in an inferior fund.

Poor superannuation choices could cost Australians $200,000: Stockspot

Choosing the wrong superannuation fund could set an average Australian back about $200,000 by retirement.

Superannuation returns record positive rebound from COVID-19

Industry-wide returns on superannuation funds have bounced back to positive territory after negative returns during the early stages of COVID-19.

COVID-19 drags women 36 years away from economic equality

COVID-19 has pulled Australian women four years further from economic gender equality, with the economic shock leaving more women without full-time jobs.

Number of people dipping into super drops to record low: APRA

The number of people dipping into their retirement fund to fare the pandemic has reached an all time low, but industry groups warn younger generations will retire with $100 billion less.

How Australians are spending their COVID-19 superannuation withdrawal

The people who dipped into their superannuation twice spent more money the second time round on groceries, paying down debt, clothing and more, according to an analysis of banking data.

COVID-19: Early release of superannuation stirs debate as fraudsters strike

Some of the money lost from dipping into superannuation early as a response to COVID-19 will be offset by higher pension payments, research by a non-partisan think tank suggests.

COVID-19 forcing quarter of working Australians to delay retirement plans: Colonial First State survey

Nearly a quarter of Australians aged 30-65 say COVID-19 is forcing them to push back their retirement.

Throwing people on smoker policies earned seven superannuation companies millions: ASIC

Seven superannuation companies have been caught overcharging customers by defaulting them onto health policies for smokers, leading to a multimillion dollar windfall.

Two thirds of Aussies who accessed super plan to double dip

Two thirds of Australians who have already dipped into their superannuation want to take out more this financial year.

Second-time superannuation dippers surge to more than a million

The number of coronavirus-affected Australians hoping to dip into their retirement savings for a second time has surged to more than 1 million.

Coronavirus-affected Aussies allowed more time to dip into super

Australians financially impacted by COVID-19 will have another three months to cash out their superannuation, as the government extends the application deadline to the end of the year.

800,000 return for second superannuation withdrawal as COVID-19 flattens returns

Applications to cash out super balances for a second time have hit 800,000 in the first 12 days of the financial year.

ATO tips for Aussies considering accessing their super early

If you’re looking to dip into your super for financial support, here are some handy tips that you’ll want to know before you begin your application.

Superannuation double dippers hit almost 350,000 in five days

Hundreds of thousands of coronavirus-affected Australians have flocked to cash out their superannuation in the new financial year, with most of them being repeat applicants.