Early super numbers increase

Over the week to 17 May, super funds made payments to 220,000 members, bringing the total number of payments to 1.41 million since the start of the scheme. The total value of payments during the week was $1.7 billion, with $10.6 billion paid since the start of the scheme. The total value of applications stands at more than $12 billion. 

The average payment made over the period since the start of the scheme is $7,510. 

Ninety-four per cent of applications have been paid within the stipulated five business days, while the average payment time is 3.3 business days.