‘Worse Off’: Warning over Super Claim
Chalmers said easier withdrawals would weaken retirement incomes as One Nation argues Australians should be able to access savings in hardship.
- On Monday, Australian Treasurer Jim Chalmers defended compulsory superannuation, accusing political opponents of seeking to "decimate" retirement incomes and framing the debate as existential to Australia's economic security.
- The political stoush began last Thursday when Liberal senator Andrew Bragg declared superannuation an "illiberal experiment," while One Nation leader Pauline Hanson labelled the system "broken" on Sunday.
- Hanson argued Australians struggling with mortgage payments should access savings, stating, "It is their money, they have sacrificed it in lieu of pay," and proposed allowing funds for housing and medical needs.
- Deputy Opposition leader Jane Hume rejected the Treasurer's claims, stating the Coalition would not change compulsory super, though she noted the party would consider early access policies for home ownership.
- ASFA CEO Mary Delahunty defended the $4.5 trillion sector, noting reliance on the Age Pension has fallen 12 percent since 2012 and calling the system a "massive public policy success.
11 Articles
11 Articles
Chalmers Rejects One Nation Push for Super Access During Hardship
Australian Treasurer Jim Chalmers has criticised One Nation’s call for easier access to superannuation, claiming it would “decimate” the economic security of Australia’s retirees. Chalmers’ comments come after One Nation Leader Pauline Hanson said superannuation should be “lightened up a bit” so that Australians in financial stress can access their own money in a time of need. But the Treasurer criticised the idea. “Their policy and their ideol…
Sydney Morning Herald
Chalmers warns of Hanson threat to super after One Nation leader calls system ‘broken’
The treasurer has accused the Coalition and One Nation of wanting to destroy Australia’s compulsory superannuation system.
One Nation leader Pauline Hanson has said Australia should review its superannuation system, allowing people to withdraw their funds before retirement to alleviate current cost-of-living pressures. The photo shows Hanson delivering a budget response speech on the evening of May 14, 2026. (AAP Image/Lukas Coch)
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