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Managing the impacts of Coronavirus

The negative impacts of the Coronavirus (COVID-19) are continuing to impact the global economy and the well-being of Australians. We are following the Government’s advice about the most effective and appropriate actions to take with our highest priority being the safety, health and welfare of our people, advisers, clients and business partners.

Key facts for people in need of assistance

  • Early access to super for people facing financial stress.
  • The JobKeeper measure to help employers keep paying their staff.
  • A reduction in the minimum superannuation drawdown rates for retirees.
  • A 'Coronavirus supplement' of $550 per fortnight for people receiving the 'JobSeeker' allowance and other benefits. This is set to reduce at the end of September.
  • A reduction in social security deeming rates of a further 0.25%, to assist Age Pensioners.

Find out more about the above measures and other Government initiatives in response to the Coronavirus.

Disruption to our business has been minimal

As a technologically advanced organisation, disruption to our business has been minimal. All our people are now working from home, except for a small number of people who are required to perform essential functions in the office.

We’ve had to adjust to this new way of working. When you call us you may hear kids, pets or a washing machine in the background or experience minor delays – but please be assured our teams are on hand to answer your queries. Pleasingly, even with the influx of calls, our response times have remained very low (minutes versus hours).

Protecting the security and privacy of our client data is legally required and very important to us. A large proportion of our people had already regularly worked remotely, so we’ve had appropriate cybersecurity, privacy systems and processes in place to secure sensitive information.

We are ready to support you
The Coronavirus situation will affect each individual differently, so we will personalise the support we provide depending on your particular circumstances wherever possible. Please contact your IOOF representative if you are facing any difficulties or issues and we will work collaboratively with you to meet these challenges.

What changes have we made to the way we normally conduct business?
In line with the Australian Government’s advice, we’ve cancelled all domestic and international travel for our people. Meetings between our people and clients, service providers or other external parties are being held via remote means, such as phone or video conferencing, unless there is a valid reason not to do so.

Thank you for your continued support

At IOOF, we’ve weathered many crises and challenges since we were founded over 170 years ago. We are a top ASX 200 company, with a strong financial position, robust governance framework and a clearly defined business strategy.

With your support combined with the resilience and dedication of our people, we believe we will successfully navigate the current situation.

We remain committed to our advice-led strategy and delivering the best outcomes for our advisers, clients, business partners and our communities in line with our purpose – understand me, look after me and secure my future.

If you have any questions or concerns, please contact us or contact your financial adviser. If you don’t have an adviser we can put you in touch with one.

This is general advice only and does not take into account your financial circumstances, needs and objectives. Before making any decision based on this document, you should assess your own circumstances or seek advice from a financial adviser. You should obtain and consider a copy of the Product Disclosure Statement available from us or your financial adviser, before you acquire a financial product.