Commonwealth Bank data shows the Australians who withdrew super spent more, but paid down their debt.
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.