Centrelink registration for COVID-19 support

hifiandmtb

hifiandmtb

Sphincter beanie
Good luck with that!

https://www.brisbanetimes.com.au/bu...suspend-cash-withdrawals-20200407-p54hqc.html

The $44 billion superannuation fund representing the hospitality industry has updated its product disclosure statement to highlight its "absolute discretion" to "suspend or restrict" applications for cash withdrawals, while defending its ability to pay out the government's emergency early access scheme.

Hostplus has altered a clause in its PDS that will be relevant to a large portion of its members without any warning. Previously, the clause had told members they can switch between investment options and it would be processed within two days. The amended clause reveals the fund has total power to halt payouts at its discretion.
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Superannuation funds aren't necessarily liquid.
 
pink poodle

pink poodle

気が狂っている男
Wouldn't they be the opposite of liquid? Well not the polar opposite, that would be some sort of liability. But the funds would almost all be tied up as investments and not readily converted to cash. I would imagine that process will see divestment by super funds which might have a destabilisation effect on loans and shares.
 
hifiandmtb

hifiandmtb

Sphincter beanie
Exactly A run on the funds would mean breaking out of their investment strategy. No-one wins when everyone pulls cash out...
 
link1896

link1896

Mr Greenfield
It hurts me to agree with Jane Hume, but she is right:


Stolen from here https://www.financialstandard.com.au/news/ato-to-verify-early-release-requests-157111786


Hume warned funds about not complying with the ATO requests, saying they stand to be exposed.

"Those funds whose members are congregated in sectors hardest hit by virus, particularly smaller funds, unless they have risk-managed their investments for a crisis, may find this period very uncomfortable," she said.

"However, I want to say today, that discomfort is no excuse to not release members' money - their own money - in a time of need."

Hume said any fund who refuses a member access to their money after an ATO determination is "essentially admitting" that their investment governance was cavalier or their systems inadequate.

"I can't imagine a bigger signal to members, to the media and to regulators," Hume said.
 
hifiandmtb

hifiandmtb

Sphincter beanie
Hahahahahaaaaa!!!!

An entire banking system can fail if there's a run on withdrawals - don't tell me that superannuation funds have their shit together!
 
pink poodle

pink poodle

気が狂っている男
I now have a CRN and a pile of forms to fill in.

I got jack of waiting so decided to ride past the local office while pursuing a coffee and some form of bliss this morning. There was no line, so in I went. The process was slow, including a 25 minute wait despite there being only 1 other client inside. Public servants really shouldn't have open plan offices that are visible from the waiting area. Anyway if you haven't heard anything and it isn't too out of the way, it may be worth checking out your local branch
 
M

mas2

Likes Bikes and Dirt
pink poodle said:
I now have a CRN and a pile of forms to fill in.

I got jack of waiting so decided to ride past the local office while pursuing a coffee and some form of bliss this morning. There was no line, so in I went. The process was slow, including a 25 minute wait despite there being only 1 other client inside. Public servants really shouldn't have open plan offices that are visible from the waiting area. Anyway if you haven't heard anything and it isn't too out of the way, it may be worth checking out your local branch
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25 mins is pretty good from what I have had in the past. I drove past the local Centrelink about 10am this morning and there were 10 people lined up outside already down the footpath.
 
nathanm

nathanm

Eats Squid
mas2 said:
25 mins is pretty good from what I have had in the past. I drove past the local Centrelink about 10am this morning and there were 10 people lined up outside already down the footpath.
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keep in mind with social distancing there's probably only 4 people in the office itself. People aren't lined up because it's packed, there's a limit on the amount of people within the office space, including staff.
 
pink poodle

pink poodle

気が狂っている男
mas2 said:
25 mins is pretty good from what I have had in the past. I drove past the local Centrelink about 10am this morning and there were 10 people lined up outside already down the footpath.
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If there had been more than 1 other "client" visiting, maybe...but the place was (unusually) a ghost town. The security guard on the door was confused and excited. I wouldn't be surprised if the staff there start pushing for this to be their new norm. The person performing triage was so far away she could barely hear me with my normal taking voice, so I felt like I was yelling.

nathanm said:
keep in mind with social distancing there's probably only 4 people in the office itself. People aren't lined up because it's packed, there's a limit on the amount of people within the office space, including staff.
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It was well spread out, by being a large office I counted 8 people at desks plus 3 security and there was a closed off section that people came and went from/to. A nice big tv for people waiting to watch, free wifi, and comfortable seats. I just wish I'd taken all my devices in to charge while I was there!

But yes, someone had been busy with the tape marking out where to stand and a security guard was on the door monitoring numbers.
 
M

mas2

Likes Bikes and Dirt
Nearly 4 weeks after applying we received the rent subsidy today and I also got a call from Centrelink. They just verified my ID and said they don't know what happens after this.
 
pink poodle

pink poodle

気が狂っている男
I've been attempting to complete their endless online forms since I visited their office...tried all sorts of different times and am getting a few questions done then receiving the "service not available" type message and experiencing a crash. Pretty frustrating.

I didn't receive a $700 handout that it seems many people did back in early March. Does anyone recall who was responsible for that or have details of eligibility?
 
M

mas2

Likes Bikes and Dirt
pink poodle said:
I've been attempting to complete their endless online forms since I visited their office...tried all sorts of different times and am getting a few questions done then receiving the "service not available" type message and experiencing a crash. Pretty frustrating.

I didn't receive a $700 handout that it seems many people did back in early March. Does anyone recall who was responsible for that or have details of eligibility?
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You needed to be on Centrelink or a pension already to get that and there is a cutoff date. If you end up getting Centrelink back paid then you should get it. At least that is what I am hoping for.
 
D

Daniel Hale

She fid, he fid, I fidn't
pink poodle said:
I didn't receive a $700 handout that it seems many people did back in early March. Does anyone recall who was responsible for that or have details of eligibility?
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i’m understanding on the bulk one offpayment was it is only for pre-registered centrelink peeps who had been on upto 1 year before announcement u_ to march 20, there is supposed to be a second payment for those centrelink registered up to june]lysty 10 or something made at 13 of july, you should get that one
 
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