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Australians withdraw more money from superannuation – NEWS.com.au
$850b debt to rise, Australians pull more out of super
Up to 20 Australians a day are applying for early access to up to $10,000 in superannuation under the COVID-19 hardship provision.New figures reveal at least 3.8 million withdrawals totalling $31.9 billion had been made as of July 28.
These include payments to 300,000 temporary visa holders.
Under a program extension, $41.9 billion is expected to be withdrawn from funds come December.
The new estimates have prompted Opposition concerns about Australians’ retirement incomes and the economy.
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