Now the Morrison Government is using COVID-19 to sneakily change the super goalposts.
Coalition governments have used every opportunity to undermine Super – including the current early access Robo-release scheme, which has pushed 3 million Australians facing poverty to raid their retirement savings. Rather than receiving timely government support, many Australians have been forced into prematurely spending more than $30 billion they had been putting away for a secure retirement.
The Morrison Government’s early super access scheme will leave young Australians more than $44 billion worse off at retirement. Its rushed implementation has also exposed the retirement savings of millions vulnerable to frauds and scams.