Mon, 4th Mar 2024 - Superannuation News Wrap

What this episode covers

In this week's Weekly Superannuation News Wrap, Paige Estritori discusses the long-term cost implications of the COVID-19 policy permitting early access to superannuation. The policy could cost taxpayers $75 to $85 billion over sixty years, potentially leaving younger taxpayers with an extra tax burden of $3,000 each. The introduction of bequeathing death benefits to charities faces potential operational and legal issues, according to the Association of Superannuation Funds of Australia. Additionally, TelstraSuper plans to offer full-time Superannuation Guarantee contributions to part-time staff returning from parental leave in a bid to enhance financial security. Lastly, recent superannuation reforms have reportedly led to a significant decline in Australians with life insurance through their super funds, resulting in fewer death benefit claims and possible financial difficulties for families.n

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Frequently Asked Questions

How long is this episode of Superannuation News Wrap?

This episode is 2 minutes long.

When was this Superannuation News Wrap episode published?

This episode was published on March 3, 2024.

What is this episode about?

In this week's Weekly Superannuation News Wrap, Paige Estritori discusses the long-term cost implications of the COVID-19 policy permitting early access to superannuation. The policy could cost taxpayers $75 to $85 billion over sixty years,...

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