The Government should consider early access to superannuation for people impacted by the bushfires, according to the head of advice for financial planning dealer group, Infocus, George Kovanis.
In a message posted to the Prime Minister, Scott Morrison on social media, Kovanis said one solution to assist those impacted by the bushfires might be the ability to access preserved superannuation benefits.
“This is their money, they have worked hard to accumulate and in some cases if not most may be all that they have left,” his message said.
Kovanis said he hoped the message would be well-received.
“This is one piece of policy that would receive bipartisan support and that of the community it would ease the immediate financial burden and would provide some sort of buffer for those who need it most,” he wrote.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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