Funds face more outflows: APRA

Original article by Samantha Bailey
The Australian – Page: 15 : 7-Jul-20

Data from the Australian Prudential Regulation Authority shows that superannuation fund members have now withdrawn some $18.1bn via the federal government’s early access scheme. APRA expects the new financial year to prompt another surge in applications to withdraw money from super funds. People who have experienced financial hardship due to the coronavirus pandemic can withdraw up to $10,000 from their super fund in both the 2019-20 and 2020-21 financial years.


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