Business
Superannuation early withdrawals near $30b as new financial year sees double-dipping – ABC News
The new financial year has triggered what some are describing as a fresh “run” on superannuation funds as the Government’s early withdrawal scheme allows people to take out another $10,000.
Desperate times have seen many Australians raid their superannuation accounts to the tune of the maximum $20,000 early withdrawal since the coronavirus pandemic struck.
Key points:
- The latest APRA figures show there have been around 2.7 million early withdrawals from superannuation
- Labor warns there is a “run” on super accounts, with around half a million people draining their balances completely
- The Government says talk of a super “run” is alarmist and the $30b withdra…
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