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Financial Crisis – Superannuation Withdrawals In Question

In This Time of Financial Crisis Superannuation Withdrawals In Question

COVID-19 impacts on more than your health. A financial crisis is upon us. With the rather significant fall in superannuation account balances the president of AIR (Association of Independent Retirees), Wayne Strandquist’s pushing for retirees to not have to draw the monthly minimum amount. Superannuation requires that retirees withdraw a minimum percentage monthly, with this fall in value it could severely affect how long that superannuation lasts in an individuals retirement.

Covid-19 globe and hands

Mr Strandquist’s calling on the government to give retirees options to either lower or cease withdrawals from their superannuation accounts. He’s asking for this until the market has stabilized again when COVID-19 is finally under control.

You can find the full article here: Pensioners push to preserve super account balances

For more information and news updates on COVID_19, click on the link: COVID_19 news and updates.

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