Commonwealth Bank data shows the Australians who withdrew super spent more, but paid down their debt.
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Unemployed Australians who accessed their super during COVID stayed on benefits seven weeks longer than similarly-placed recipients who did not.
The latest data shows early access to super in the pandemic widened the retirement savings gap between men and women. Housing affordability is a serious problem, but depleting super isn’t the answer.
ASIC suspects some super fund trustees of using inside information for personal gain, but they might not be caught by the insider trading laws.
For some people, accessing their super early for fertility treatments is their only chance to start or extend their family. And they need better protection.
Allowing Australians to use their super to buy homes would most benefit those with the most super. They’re the least in need.
Nothing, not even advertising will be permitted unless it is in the ‘best financial interests’ of members.
Putting more of each pay packet into super would widen the gap between high earners and low earners; between men and women.
The increase will come at the expense of wages, and in the view of two inquiries - a decade apart - is something we don’t need.
Most Australians get enough to live on in retirement. Some get more they get while working, but 30% get less, and boosting super won’t help them.
A leading-edge study conducted for the Retirement Incomes Review used Tax Office data to examine what happened to wages after firms paid more super.
Only 13 of the 44 economists surveyed want them to proceed as planned.
Top contributors
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professor of Economics and Director, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
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Professor of Cognitive Psychology, UNSW Sydney
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Associate Professor, Corporate Law, University of Sydney Business School, University of Sydney
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Associate Professor in Law, Deakin University
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Professorial fellow, Monash University
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Program Director, Economic Policy, Grattan Institute
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Research fellow, Tax and Transfer Policy Institute, Australian National University
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Professor of Economics, The University of Western Australia
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Senior Associate, Grattan Institute
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Senior Research Officer, Crawford School of Public Policy, Australian National University
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PhD Student, School of Psychology, UNSW Sydney
