According to the latest APRA data, as at 14 June, 2.3 million ATO-approved applications have now been received by the funds, for a total of $16.9 billion.
The funds have paid out 2.1 million of the claims.
The average payment was $7,468.
Over the week to 14 June, the funds made payments totalling $1.3 billion to 148,000 members.
The ten funds with the highest number of applications received from the ATO have made 1.42 million payments, worth a total of $10.46 billion – covering 65 per cent of the amount claimed under the scheme.
The average payment from the ten funds was $7,3732, with more than 96 per cent of the payments made within five days.
Across the sector, the funds have taken 3.3 business days to pay out the applications on average, with 95 per cent of the applications being paid within five working days.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
