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Out of touch Coalition MPs push workers towards a retirement in poverty image
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Out of touch Coalition MPs push workers towards a retirement in poverty

Published: 22 Jun 2020

Monday 22 June 2020

A SMALL band of Coalition MPs want to slash up to $200,000 from the savings of Australian families.

Using the Coronavirus caused downturn as cover, the backbench MPs, have called for the legislated super rate increase to be scrapped or frozen – a move which would see a couple on average wages lose between $150,000 to $200,000.    

More than 170,000, mostly, young Australians accessing their super early through the emergency early release scheme, have wiped out their savings. The only way to now avoid the long-term legacy of this downturn being a generation of Australians who have lost their savings and are forced onto the pension, is to stick to the already legislated super rate increase.

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