Media Releases

15 May 2022

Early release of superannuation for housing deposits will not address affordability

The Association of Superannuation Funds of Australia (ASFA) said today’s announcement that a re-elected Morrison Government would allow superannuation to be used for housing would be ineffective in improving housing affordability and will significantly impact the ability of Australians to have a dignified retirement.

In a report published in March 2021, ASFA found that:

  • None of the comprehensive reviews of superannuation have recommended the early release of superannuation for housing deposits, while several have made recommendations to the contrary
  • Early release of superannuation for housing deposits is fundamentally inconsistent with the objective and central principles of superannuation. It would also be ineffective in improving housing affordability and increasing rates of home ownership
  • The direct effect on the housing market of early release of superannuation for housing deposits is that increased purchasing power would be near fully capitalised into higher house prices, exacerbating the upswing of the current house price-credit cycle.

“ASFA supports the downsizer measure announced earlier today as it will help increase the housing stock for families and the retirement balances of older Australians,” said ASFA Deputy CEO, Glen McCrea.

“However, the early release of superannuation for housing is not a panacea, is not in line with the objectives of the system and will have long-term consequences for retirement incomes,” concluded Mr McCrea.


For further information, please contact:
ASFA Media team, 0451 949 300.

About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national organisation. ASFA’s mission is to continuously improve the superannuation system, so all Australians can enjoy a comfortable and dignified retirement.

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