POWERED BY MOMENTUM MEDIA
Victims of domestic violence need super benefits
The Association of Superannuation Funds of Australia (ASFA) has said it has supported the early release of super on compassionate grounds for domestic violence victims.
According to ASFA, in many cases of domestic violence the victim would lack the access to funds to support them to leave the perpetrator and find a new place to live.
In its submission to Treasury, ASFA suggested that people who accessed domestic violence support services, through the welfare system, should be able to apply for early release of some of their superannuation.
ASFA’s chief executive, Martin Fahy said: “In cases where a member wants to leave their partner and has limited or no financial resources, they should be able to access an amount of their superannuation to help them leave.”
At the same time, ASFA recommended the amount released be restricted to a bond to obtain new accommodation, together with an amount for short-term living costs.
“Domestic violence is a significant issue in the community, so providing access to funds at such a critical time can make a real difference for victims seeking to escape the cycle of violence,” Fahy said.
The SMSF Association also expressed its support for early release of super for victims of domestic violence, with head of policy Jordan George flagging it as an ongoing issue under the Association’s consideration at the organisation’s annual conference yesterday.
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
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(%)
