Early release super scheme still rippling through system
Almost a year after it ceased, the latest data from the Australian Prudential Regulation Authority (APRA) has reinforced the ongoing impact of the Government’s COVID-19 hardship early release regime.
The key number revealed in the APRA September quarter superannuation performance statistics was a $81.8 billion decline in lump sum payments for the 12 months to the end of September and a significant increase in net contributions over the same period.
According to the APRA analysis, this data reflects the ending of the of the Early Release scheme.
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