‘The great lie of superannuation’ revealed as MP pushes for change
Liberal MP Tim Wilson is urging the federal government to prioritise homeownership over superannuation savings.
The federal government is considering whether to delay or cancel a scheduled increase in compulsory superannuation from 9.5 per cent to 12 per cent by 2025.
Mr Wilson told Ben Fordham allowing Australians to access super to buy a home could change how people live in retirement.
“The most important factor for retirement security is not the size of your super balance, it’s whether you have a home.”
He rejects there will be greater pressure on the pension system as a result.
“This is one of the great lies.
“In 1990 67 per cent relied on the pension, after 30 years of compulsory super it’s dropped to 65.”
Click PLAY below to hear the full interview