Super SA

In reply to the Hon. S.C. MULLIGHAN (Lee) (28 July 2021). (Estimates Committee B)

The Hon. R.I. LUCAS (Treasurer): I have been advised the following:

Since the COVID-19 Financial Hardship Early Release of Benefits scheme since it commenced in April 2020. 9,107 Super SA members have made 12,803 withdrawals from their superannuation accounts totalling $106,999,158.76.

2,538 members withdrew amounts of less than $10,000.

3,201 members withdrew $10,000.

714 members withdrew an amount between $10,000 and $20,000.

2,654 members withdrew the maximum allowable amount of $20,000.

Super SA's records indicate that 827 accounts were rendered with a nil balance as a result of the above withdrawals.