Early Release of Super (ERS) Update

This is the latest information on the government’s Early Release of Super (ERS) scheme, up to 30 August 2020.

So far:

  • $32.6 billion has been paid out by superannuation funds

  • The average payment is $7,680

  • Payments take 3.3 business days on average once the application is received by the Australian Tax Office (ATO)

  • Ninety-five per cent of applications are paid within five business days

  • There have been 3.1 million initial applications received, with $7,402 as the average application amount (some from multiple accounts)

  • There have been 1.2 repeat applications received, with $8,439 as the average application amount

  • 98 per cent of applications have been paid with 0.9 per cent in process

  • APRA has received data from 175 funds

Over the week to August 30:

  • Out of 52,000 applications, 31,000 were initial applications and 21,000 repeat

  • Superannuation funds made 51,000 payments

View the full release