SMSF Association Submission
I am writing to you regarding the current economic instability affecting SMSF members in the retirement phase, resulting from the COVID-19 pandemic health crisis. I acknowledge the measures that the Government has already announced to help slow the spread of the pandemic and to provide economic stimulus to many individuals and businesses which are adversely affected by the financial ramifications of the crisis.
The high degree of volatility and large falls in the global financial markets have created significant concerns regarding the minimum drawdown requirements for superannuation members. We expect you would be receiving many similar representations from affected individuals and stakeholders.