POWERED BY MOMENTUM MEDIA
Calls for early super access for family violence victims
Health and community services sector industry superannuation fund, HESTA has called for early access of up to $10,000 of superannuation for victims and survivors of family violence under compassionate grounds.
HESTA chief executive, Debby Blakey, said urgent action was needed as on average at least one woman a week was killed by a partner of former partner.
“While early access to super is currently possible to stop the bank selling your home, pay for a dependant's funeral or get medical treatment under compassionate grounds, this is denied in instances of family violence,” she said.
“We think it’s entirely appropriate that super regulations extend compassion to victims and survivors of family violence to empower women with the financial means to escape abusive relationships.”
Blakey said responsibility for improving financial and other family violence support services rested with all levels of government and accessing super should be an interim “band-aid” measure.
“We urgently need a nationally coordinated response to family violence. While it’s encouraging that the Victorian State Government now provides financial support of around $7,000, having the financial capacity to leave a violent relationship shouldn’t depend on where you live in Australia,” she said.
“Women already retire with almost half the super of men, and they shouldn’t have to use their super for this purpose. But family violence is one of the rare situations in which short-term financial needs are more compelling than the need to preserve superannuation for retirement.”
Recommended for you
The UK aims to boost investments via Australia’s super fund sector, unlocking major bilateral business and growth opportunities.
The Future Fund has received government approval to internally manage transactions in Australian infrastructure and property, marking a significant shift in its investment approach after nearly two decades of relying solely on external managers.
The super fund has welcomed Robert Potter and Wayne Davy to its board of directors.
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
