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Early access superannuation scheme estimated to hit $42 billion in coronavirus support – ABC News
The Treasury says 560,000 Australians are estimated to have “completely cleaned out” their superannuation savings during the COVID-19 crisis, and it predicts workers will withdraw a total of $42 billion under the early-access scheme.
More than half a million Australians are estimated to have “completely cleaned out” their superannuation savings during the COVID-19 crisis, as Treasury predicts workers will withdraw a total of $42 billion under the early-access scheme.
Key points:
- More than 2.3 million Australians have accessed their superannuation early
- The initial estimate was that $29.5 billion would be accessed, that’s been revised to $42 billion
- Industry Super says super funds will not support an…
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