Industry Super Australia’s statement on government’s COVID-19 stimulus package

Statement from Industry Super Australia Chief Executive Officer Bernie Dean on the superannuation component of the federal government’s stimulus package

Industry Super Australia (ISA) acknowledges the announcement made by the government to allow more workers suffering financial distress to the Coronavirus to access their super early and is ready to work through the all important detail that will enable people suffering hardship access to some of their super in an efficient way that doesn’t undermine our national savings system.

As we have been indicating publicly, this is an issue that must be handled very carefully in order to prevent the compounding of liquidity pressures that may be faced by superannuation funds in the current market conditions, and as they support anxious members.

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