APRA has released its weekly update on the Morrison Government’s early superannuation release program, which reveals that another $2.7 billion was withdrawn in the week ended 19 July:
Over the course of the scheme, more than 3.6 million applicants have withdrawn $28.0 billion from their retirement nest eggs, averaging $7,719 per withdrawal.
As shown in the below charts, the top six targets for superannuation withdrawals were all industry funds, which combined accounted for just over half of total early superannuation withdrawals in both number and value terms:
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