Wealth management software company Bravura Solutions has delivered its early super release capability ahead of time to handle the anticipated influx of requests.
As part of the Government’s economic response to COVID-19, the legislative changes included a reduction in the minimum drawdowns from pensions and early access to retirement funds for those financially impacted by the pandemic.
In a two-week timeframe which involved a working partnership with clients and regulatory bodies, Bravura had enabled its clients to commence processing the Australian Tax Office (ATO) early release payments from the 20 April release date.
Jon Alder, Bravura’s head of operations, said the global pandemic was new territory for everyone.
“Superannuation plays an important role in the community at large, which is why it was critical that Bravura supported our clients through this change,” Alder said.
“Despite challenging delivery timeframes, Bravura’s ability to quickly collaborate on solution designs with our clients and the regulators and to develop rapidly was critical to achieving a successful outcome.
“This collaboration was essential to deliver this solution to market quickly for the benefit of those in need.”