Keeping our members and broader community informed as we navigate an unprecedented time.
We understand that the significant impact of COVID-19 (Coronavirus) is presenting real challenges for our members and our broader community as we come to terms with adjusting to a new way of life.
On this page you will find a HUB of information and resources that we hope will provide you with some clarity during this uncertain time. We will continue to update this page as the impact of COVID-19 evolves. We pray peace, comfort and provision for you and your family in this season.
- CEO update
- Investment market update
- Insurance cover
- Temporary early access to super
- Support for retirees
- Government Support
- Other Financial Assistance & Services
COVID-19 response from our CEO, Ross Piper.
Investment market update
Investment market commentary from our investment team.
The impact of the coronavirus continues to raise medical concerns and we have received many questions from our members and the role insurance cover plays during a pandemic.
Members who have death, total & permanent disablement or income protection through Christian Super can be assured that there are no pandemic-related exclusions. All claims will be assessed in line with the terms and conditions of the policy e.g. income protection applies when you are unable to work because of your own medical condition.
Temporary early access to super
If you’re impacted by the effects of Coronavirus (Covid-19), the Government is allowing individuals to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21.
While superannuation helps people save for retirement, the Government has recognised that for those significantly financially affected by the coronavirus, accessing some of those savings today may outweigh the benefits of maintaining those savings until retirement. The government is also offering multiple packages to support households and businesses. A list of these can be found in the Government Support section below.
Support for retirees
Temporary reduction in super minimum drawdown rates
The government is temporarily reducing superannuation minimum drawdown requirements for account-based pensions and similar products by 50% for 2019–20 and 2020–21. This measure will benefit retirees holding these products by reducing the need to sell investment assets to fund minimum drawdown requirements. Click here to learn more.
Changes to social security deeming rates
The government is also reducing both the upper and lower social security deeming rates by a further 0.25 percentage points in addition to the 0.5 percentage point reduction to both rates announced on 12 March 2020.
- Treasury fact sheet click here
The Government is acting decisively in the national interest to support households and businesses and address the significant economic consequences of the Coronavirus. Please find a list of support from the government below:
- Individuals and households https://treasury.gov.au/coronavirus/households
- Businesses https://treasury.gov.au/coronavirus/businesses
- Intention to claim https://www.servicesaustralia.gov.au/
- Economic updates from the treasury gov.au/coronavirus
- Latest government updates and advice https://www.australia.gov.au/
Other Financial Assistance & Services
Relief from home loan repayments & other bills
Banks are offering deferrals of home loan repayments for 6 months, energy and other utility providers are also providing payment deferrals, contact your providers for more details.
Talk to your bank for home loan deferrals for 6 months, here are some examples:
Talk to other suppliers, here are some examples:
Christians against poverty is a not-for-profit organisation supporting individuals and families through debt management, unemployment and financial literacy.