Draining entire superannuation savings wouldn’t cover most young couples’ home deposits, research finds (www.theguardian.com)

submitted 7 months ago by BrikoX@lemmy.zip to c/australia@aussie.zone

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Research by the Association of Superannuation Funds of Australia casts doubt on the Coalition’s plan

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[-] Nath@aussie.zone 8 points 7 months ago

I don't understand the point being made, here. Yes, when I was young, my super fund was small. I think I had less than $100k in my super when I was 30. Which makes complete sense - Super is designed to grow over 40ish years of employment, not be accessed after 5-10 years.

[-] vividspecter@lemm.ee 9 points 7 months ago

The point is that the Coalition's plan is idiotic just like it was idiotic when they allowed people to drain their super during the pandemic.

[-] bfg9k@lemmy.world 2 points 7 months ago* (last edited 7 months ago)

lol I have been working since I was 16 and have less than 40k in super ( I'm ~30 now)

I don't think I'll even make it to retirement anyway

this post was submitted on 25 Mar 2024

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