Our CEO Ross Piper shares a brief update regarding the impact of COVID-19 on 16th March 2020.
Click here to read more about our response to COVID-19. If you are unable to hear the audio on this video, then please refer to the transcript below.
Well what a season we find ourselves in, events are quickly unfolding in our communities, our cities, our country and around the world as humanity grapples with how best to manage and contain the impacts of the Corona virus.
Humanity has been deeply challenged and I’m reminded of the passage from Psalm 46 which says, “Be Still and know that I am God”. With growing concerns and anxiety in the community: faith, goodness and kindness are particularly important in the present season. As a Fund we hear and share your concerns and our team are continuing to respond to many enquiries from our members, with questions about their retirement savings and the ongoing social, economic and market impacts of the virus.
Business continues as usual for us and we have robust contingency plans in place to ensure that we can continue to be present and serve our members throughout the current crisis. And whilst market volitivity is likely to continue until the situation normalises, again we counsel against taking quick and unconsidered action with changing an investment option, or if you’re looking to change, that you would access personal financial advice before doing so. History has shown that markets do stabilise and recover with time, and we have a highly capable investment team working hard to look after your retirement savings.
We’ve also received questions from members about early access to super in the current circumstance. To date the government has not indicated any changes to existing eligibility requirements for early access, but of course if this changes we will communicate that with our members.* And of course, if you have questions or concerns about any aspects of your investment or insurance, please contact our Member Care Team and we’ll continue to provide regular updates to our members via blogs, webinars or other social channels.
And finally, if you are a praying person, continue to join us in prayer for the leaders and medical experts who are coordinating the virus response, and also for the many thousands of front line workers who are responding to the needs of so many. Also, to pray that our community’s response may be marked by deep generosity and actions of kindness, patience and grace, particularly to the most vulnerable in our society that may be impacted by the virus. God bless.
* Since this video was recorded, the Government has announced that they are allowing individuals affected by the Corona virus to access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. Individuals will not need to pay tax on amounts released and the money they withdraw will not affect Centrelink or Veterans’ Affairs payments. For more information, visit https://treasury.gov.au/coronavirus/households