Early Release Scheme Update
As of 24 May 2020, Hostplus has processed 172,100 ATO-approved requests for the Early Release Scheme (ERS), totalling $1.18 billion.
“The most pleasing aspect is that we continue to process 96% of requests within five business days, which means the vast majority of our members are getting access to their funds in a timely fashion.
“Our members are some of those that have been hardest hit by the COVID-19 pandemic and we are working hard to ensure they can access their funds as soon as possible, while mitigating any security or fraud risks relating to the ERS,” said Hostplus CEO, David Elia.
For those members who have experienced a delay, Hostplus continues to encourage members to visit its website to learn what steps can be taken to speed up the process.
“Our Fund continues to be in an extremely strong position and our staff remain focused on assisting our members suffering hardship at this time,” Mr Elia said.
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