Hanson Defends 3% Super Diversion for 7 Million Australians as Critics Warn of $25,000 Retirement Hit
Updated
Updated · ABC News · Sep 7
Hanson Defends 3% Super Diversion for 7 Million Australians as Critics Warn of $25,000 Retirement Hit
3 articles · Updated · ABC News · Sep 7
Summary
Pauline Hanson said One Nation's plan would let renters and mortgage holders divert 3% of compulsory super into take-home pay for up to three years, arguing 7 million Australians should be able to use "their money" now.
A worker earning A$90,500 would get about A$44 a week after tax, or roughly A$2,300 a year, while Hanson said the extra cash could help cover rent, power bills, food or medical costs.
Industry and economist criticism intensified, with the Super Members Council estimating a typical 30-year-old would retire about A$25,000 worse off and the peak super body calling the policy "economically disastrous" and inflationary.
Jim Chalmers accused One Nation of wanting to "end superannuation as we know it," while Hanson rejected that claim and Barnaby Joyce said any inflation effect would be "undetectable."