Minister for Superannuation Jane Hume has defended the recent announcement of the Super Home Buyers scheme.

The policy which was announced by Prime Minister Scott Morrison over the weekend would enable first home buyers to use up to 40 per cent of their super to put towards buying a home.

The Coalition says this would slash the time needed to save a house deposit by three years on average.

However, the policy received a rejection from Labor leader Anthony Albanese on the basis it would weaken retirement incomes.

Ms Hume told Mark Levy the policy is “all about” getting Australians into their first home sooner.

“Owning a home is one the best indicators of economic security both in your working life and in retirement.”

Press PLAY below to hear the Minister’s full comments