News

Sat Aug 8

Early access to super doesn’t justify higher compulsory contributions

Written by Brendan Coates, Program Director, Household Finances, Grattan Institute

A big part of the Morrison government’s response to COVID-19 has been allowing people early access to their superannuation.

Australians who have claimed hardship have applied for A$30.7 billion to date.

This has been happening in an environment in which compulsory super contributions are set to climb from 9.5% of wages to 12% over the next...

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