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Early Release Scheme Update

As of 16 August 2020, Hostplus has processed 373,995 early release of superannuation (ERS) applications, totalling over $2.70 billion. 97% of ATO-approved requests within 5 business days.

“Hostplus remains well placed to continue meeting the needs of any of our members considering accessing their super early as a means of additional financial support,” said Hostplus CEO, David Elia.

“We encourage members to visit our website prior to submitting an ERS application. Not only does it outline some important considerations when it comes to accessing super early, but it also details steps that members should take to avoid unnecessary delays in their application.”

Hostplus reminds its members that the ATO’s initial verification of their ERS application can take up to 4 business days and that, once the ATO has advised Hostplus of an approval, it will typically take up to 5 business days for Hostplus to process the application.

Hostplus’ most recent ERS statistics can be found here.

 
 

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