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Some of the biggest superannuation funds are proposing the Morrison government hands out $5000 to low-income earners for retirement after one million young workers cleared out the majority of their super to stay afloat during the coronavirus pandemic.
The futures of young workers who have lost livelihoods and career paths during the coronavirus-induced recession have sparked global concern. Unions and super funds are warning this cohort needs special attention from the federal government.
The economic recovery from the coronavirus pandemic is under way, but workersâ groups fear youth will bear the scars.
Credit:
The Australian Institute of Superannuation Trustees pre-budget submission requests a federal government contribution into super of up to $5000 for those earning less than $39,837 who withdrew money from their retirement accounts last year. AISTâs members include major funds managing billions of dollars of assets like Australian Super, Hostplus, C
Minister Tehan Says Government Considering Tourism-Targeted Support
Federal tourism minister Dan Tehan said it is unlikely international travel will resume for another year and so the Morrison government is considering targeted financial support for tourism businesses economically impacted by Australia’s CCP virus restrictions.
“I’ve already been engaging heavily with the tourism industry to listen to their concerns and also to get thoughts, ideas and feedback from them as to how the government may be able to assist them while we wait for international tourism to come back online,” Tehan said in an interview, The Guardian reported on Saturday.
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Some of the biggest superannuation funds are proposing the Morrison government hands out $5000 to low-income earners for retirement after one million young workers cleared out the majority of their super to stay afloat during the coronavirus pandemic.
The futures of young workers who have lost livelihoods and career paths during the coronavirus-induced recession have sparked global concern. Unions and super funds are warning this cohort needs special attention from the federal government.
The economic recovery from the coronavirus pandemic is under way, but workersâ groups fear youth will bear the scars.
Credit:
The Australian Institute of Superannuation Trustees pre-budget submission requests a federal government contribution into super of up to $5000 for those earning less than $39,837 who withdrew money from their retirement accounts last year. AISTâs members include major funds managing billions of dollars of assets like Australian Super, Hostplus, C
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