POWERED BY MOMENTUM MEDIA
Hostplus ready to deploy funds under early access scheme
Hostplus has welcomed the government’s early release of superannuation scheme and said it had ample liquidity available for members wishing to access their super.
The scheme will allow super members who are undergoing financial hardship due to flow on affects of COVID-19 to access up to $20,000 from their super.
Hostplus chief executive, David Elia, said “We have ample liquidity available to support members undergoing financial hardship.
“We want to reassure Hostplus members that we will work to make sure those wishing to access money from their superannuation accounts can do so easily and in a timely fashion.”
Elia noted that members needed to carefully consider the long-term impact on their super saving before seeking to withdraw cash from their super accounts.
“Withdrawing $20,000 from a superannuation account now will substantially reduce members’ final balance on retirement,” he said.
Members can access the first $10,000 under the scheme by applying to the Australian Taxation Office from 20 April, 2020 and funds would flow to members’ bank accounts shortly afterwards.
Recommended for you
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.
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(%)
