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Australia's right-wing One Nation party proposes pension shake-up to boost take-home pay
The party says workers could get up to $4,300 a year in extra pay while keeping future employer contributions intact.
- On Monday, One Nation leader Pauline Hanson and Treasury spokesperson Barnaby Joyce proposed allowing workers to divert 3% of their compulsory 12% superannuation into take-home pay for three years to ease mortgage and rent pressures.
- Calling existing hardship provisions "extremely convoluted," Joyce defended the proposal as providing financial "breathing room" amid rising living costs, arguing Australians struggle unnecessarily to access their own money during financial distress.
- Party modelling shows couples earning $168,000 combined could receive about $82 weekly, while full-time workers earning $90,500 would gain roughly $44 more per week, taxed at the concessional 15% rate rather than higher personal rates.
- Treasurer Jim Chalmers and Social Services Minister Tanya Plibersek condemned the plan as a "full-frontal attack" on retirement savings, warning workers would be "thousands of dollars worse off" due to lost compound interest over decades.
- Expected in 2028, the next national election will serve as a referendum on Australia's $4.5 trillion superannuation sector, setting the stage for ideological clash over whether retirement savings are a national asset or personal property.
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20 Articles
20 Articles
Australia's right-wing One Nation party proposes pension shake-up to boost take-home pay
Australia's hard-right One Nation party, which has surged in recent polls, on Monday proposed redirecting a portion of people's future pension contributions to take-home pay, a move criticised by the ruling centre-left Labor party.
·London, United Kingdom
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Pauline defends housing super ‘band-aid’
Pauline Hanson has downplayed the potential long-term impact on renters and mortgage holders who One Nation have proposed allowing to withdraw one quarter of their compulsory super contributions, as housing advocates warn the plan was “a band-aid over a rigged housing system”.
·Surry Hills, Australia
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Total News Sources20
Leaning Left5Leaning Right5Center5Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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