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Early release double-dippers taking more
Demand for early release superannuation appears to have levelled off following the upsurge which accompanied the opening up of the Government’s second tranche on 1 July, but repeat applications are still significantly outstripping first time requests.
The latest data released by the Australian Prudential Regulation Authority (APRA) has revealed that over the week to 26 July, superannuation funds paid $1.4 billion, bringing to $29.4 billion the amount paid under the scheme since inception.
It said the average payment made over the period since inception was $7,705, but that this rose to $8,547 when repeat applications were viewed in isolation.
The APRA data said that in the week to 26 July, 140,000 applications were received by funds of which 59,000 were initial applications and 81,000 were repeat applications.
It said that since inception the total number of initial applications was 2.9 million and the total number of repeat applications was one million.
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TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
