Text version of Dashboard on COVID-19 Superannuation Early Release Scheme

This dashboard contains the latest data on the COVID-19 Superannuation Early Release Scheme, for the period ending 3 May 2020:

Current status of applications: $6.3bn payments made; $7,629 average payment; 1,080K applications received; 830k applications paid; 3.1 business days on average to pay an application*, 96% applications paid within five business days*.

*The payment processing period is measured from the date the super fund receives application from the ATO.

Value of applications: The week ending 26 April 2020 presented a cumulative of $5.1bn in applications received and a cumulative of $1.3bn of applications paid. The week ending 3 May 2020 presented a cumulative of $8.1bn in applications received and a cumulative of $6.3bn of applications paid.

Payment status: 77% applications were paid and 22% applications are in process.

Processing times for payments: 96% applications were paid within five business days.

Number of applications: 664k applications received and 163k applications paid during week ending in 26 April 2020. 1,080k applications received and 830k applications paid during week ending in 3 May 2020.

Distribution of processing times: 26% applications were processed in one business day, 8% in two, 18% in three, 35% in four, 10% in five, 2% in six, 0% in seven, 1% in eight, 0% in nine, 0% in ten or more.