Published: 19 May 2022
A Coalition proposal to bust open superannuation could leave every worker tens of thousands worse off, even if they don’t access the scheme, new Industry Super Australia analysis shows.
Under the scheme, funds would be forced to carry more cash – a lower performing asset – this means every Australian with a super fund could have less at retirement.
A 30-year-old on the median wage with a $20,000 starting balance could be between $14,700-$29,100 worse off at retirement, regardless of whether they accessed the scheme or not (today’s dollars).
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.