We understand news of the coronavirus pandemic and resulting share market falls could be concerning for you. Stock markets in both Australia and around the world continue to react to the changing situation, and many of our members have been asking us what this might mean for their super.
Early release of super for people financially impacted by coronavirus
From Monday 20 April, you can apply through myGov for early release of up to $10,000 of your super by 30 June 2020 and $10,000 between 1 July 2020 and 24 September 2020.
Reduced minimum drawdown rates for income stream members
For the 2019/20 and 2020/21 financial years, minimum drawdown amounts have been reduced by 50% in response to the coronavirus pandemic. See the new amounts here.
Interactive online webinars
The Government has introduced changes to super rules that may help with the financial impact of coronavirus. Join our short, sharp webinars, hosted by HESTA, to hear how they might affect you.
A word from our CIO, Sonya Sawtell-Rickson
We’ve been here before: market impact
“Our investment team and external investment managers are highly experienced at managing investments through a range of market conditions,” says HESTA Chief Investment Officer Sonya Sawtell-Rickson.
“While it’s still too early to know the full impact of the coronavirus, our team is carefully monitoring the situation and is well prepared to both manage risk and invest in opportunities arising from changing market conditions.”