Statement by ASFA CEO Mary Delahunty
“One Nation’s policy to allow people to access their super to help with their living costs would be economically disastrous.
“This policy would push up inflation and make people poorer in retirement. It’s as simple as that.
“Most Australians understand the basic economics. When you pour more money into a high-inflation economy, it makes everything more expensive. This proposal would not alleviate the cost of living; it would drive the cost of living higher.
“It is unfair to ask everyday working Australians to sacrifice their retirement savings to fix policy problems they didn’t cause, like inflation and the housing crisis.
“These problems need real policy solutions that build more houses and lower the cost of living, not unimaginative ones that make everything more expensive and force Australians to be more dependent on Centrelink in retirement.
“Australians love their super system, like they love Medicare.
“ASFA polling shows cutting the super guarantee is extremely unpopular with Australians. Only 18 percent of people approve of cutting super to 9 percent, even if the remaining 3 percent is taken as wages.
“Allowing people to take out three percent is the thin end of the wedge that could erode one of the greatest policy success stories this country has.”
Members of the media may contact:
Scott Roberts
Media and Content Lead
sroberts@superannuation.asn.au
0451 949 300
About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry, and the only industry body that represents all parts of the APRA-regulated system.
Our more than 100 members include retail, industry, corporate and public sector funds and their service providers. For over sixty years, ASFA has been the voice of super, advocating for a dignified retirement for all Australians. Through research, advocacy and collaboration, ASFA promotes efficiency, sustainability and trust in Australia’s world-class retirement income system.