Business
Mortgage offset accounts flooded with early super money – MacroBusiness
As we know, early withdrawals from superannuation ballooned to $28.0 billion in the week ended 19 July: The Australian Treasury now expects about $41.9 billion in total to be withdrawn from super funds, compared with its previous forecast of $29.5 billion. An…
As we know, early withdrawals from superannuation ballooned to $28.0 billion in the week ended 19 July:
The Australian Treasury now expects about $41.9 billion in total to be withdrawn from super funds, compared with its previous forecast of $29.5 billion.
Analysis of banking data shows that most of this money is being saved, used to reduce debts or placed in mortgage offset accounts:
Government analysis of banking sector data has indicated the vast majority of the early release payments are …
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