Early Release Scheme Update
Hostplus has processed 202,000 requests for the early release of superannuation scheme as of 7 June 2020, totaling $1.38 billion. 96% of these requests continue to be processed within 5 business days.
“Many of our members work in some of the industries that have been hardest hit by the economic impacts of the coronavirus and we are committed to ensuring that those who have made the difficult decision to access their superannuation, can access their funds in a timely manner.
“We understand the frustrations of those members whose requests have been delayed but this is often due to the need for Hostplus to undertake additional security checks, or there also may be a need for the member to update their account details,” said Hotplus CEO, David Elia.
Hostplus encourages its members to visit the Fund’s website to see what steps they can take to help process their payments quicker, including ensuring the information on their MyGov account is accurate.
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