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Australia's right-wing One Nation party proposes pension shake-up to boost take-home pay
One Nation says the plan would give a full-time worker about $2,300 more a year while leaving existing super balances untouched.
- On Monday, One Nation leader Pauline Hanson proposed allowing Australians paying rent or a mortgage to divert 3 percentage points of their 12% compulsory superannuation contribution into take-home pay for up to three years.
- One Nation treasury spokesperson Barnaby Joyce defended the policy as providing "breathing room" for families, arguing the current early-access hardship system is "incredibly convoluted" and fails to address immediate cost-of-living pressures.
- Treasurer Jim Chalmers dismissed the plan as a "full-frontal attack" on retirement security, warning that compound interest losses will leave workers tens of thousands of dollars worse off by retirement.
- ASFA chief executive Mary Delahunty labeled the proposal "economically disastrous," cautioning that injecting billions into the economy would worsen inflation and increase interest rates for mortgage holders.
- The A$4.5 trillion superannuation sector has become an ideological battleground, with Chalmers framing the 2028 national election as a referendum on the future of Australian retirement savings.
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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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Coverage Details
Total News Sources28
Leaning Left8Leaning Right6Center6Last UpdatedBias Distribution40% Left
Bias Distribution
- 40% of the sources lean Left
40% Left
L 40%
C 30%
R 30%
Factuality
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