COVID-19 early access to superannuation commences

The measure, announced and legislated in March, to allow qualifying Australians early access to up to $20,000 of their superannuation between now and September, came into effect on 20 April 2020.

The Treasurer, Josh Frydenberg MP, has released figures showing that 456,000 have initially requested access to superannuation, with a total of $3.8 billion being released. The Treasurer stated that an average of $8000 has been requested.