Accessible version of the Early Release Scheme for 31 May 2020

This dashboard contains the latest data on the COVID-19 Superannuation Early Release Scheme, for the period ending 31 May 2020:

Current status of applications: $13.5bn payments made; $7,473 average payment; 1.96m applications received; 1.81m applications paid; 3.3 business days on average to pay an application*, 95% 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 $5bn in applications received and a cumulative of $1bn of applications paid.
  • The week ending 3 May 2020 presented a cumulative of $8bn in applications received and a cumulative of $6bn of applications paid.
  • The week ending 10 May 2020 presented a cumulative of $10bn in applications received and a cumulative of $9bn of applications paid.
  • The week ending 17 May 2020 presented a cumulative of $12bn in applications received and a cumulative of $11bn of applications paid.
  • The week ending 24 May 2020 presented a cumulative of $13bn in applications received and a cumulative of $12bn of applications paid.
  • The week ending 31 May 2020 presented a cumulative of $14bn in applications received and a cumulative of $13bn of applications paid.

Payment status: 93% applications were paid and 6% applications are in process.

Processing times for payments: 95% applications were paid within five business days.

Number of applications:

  • 0.7m applications received and 0.2m applications paid during week ending in 26 April 2020.
  • 1.1m applications received and 0.8m applications paid during week ending in 3 May 2020.
  • 1.3m applications received and 1.2m applications paid during week ending in 10 May 2020.
  • 1.6m applications received and 1.4m applications paid during week ending in 17 May 2020.
  • 1.8m applications received and 1.6m applications paid during week ending in 24 May 2020.
  • 1.9m applications received and 1.8m applications paid during week ending in 31 May 2020.

Distribution of processing times: 18% applications were processed in one business day, 10% in two, 17% in three, 43% in four, 6% in five, 2% in six, 1% in seven, 1% in eight, 0% in nine, 1% in ten or more.

The complete release can be found here.

Footnotes