The future of the country's superannuation system is up for debate, as the Treasurer looks to stop Australians raiding their accounts before they retire. ElizaEdNews 9News MORE:
Chalmers is set to speak today to call for an objective for superannuation that will spell out the need for it to be preserved for retirement.The federal government wants to make it harder for Australians to access their superannuation early.
The federal opposition, however, has pushed for early access to remain open as part of a first home buyers scheme.$36 billion had been withdrawn from Australians' collective super during the COVID-19 pandemic.Should Australians be allowed to access a portion of their super ahead of retirement?Kehoe said there were two sides to the home-buying scheme debate, pointing out that people accessing their super might drive prices higher.
"The retirement income system showed the best way to have financial security in retirement is owning your own home," he said.Independent Senator Jacqui Lambie queried the proposal, saying life wasn't "black and white". "There are things that happen in our lives where that money may come in handy, whether it is part of that money, or 20 per cent of that money, just to keep us afloat," she said.
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