'It's your own money': One Nation push for early super

Under a proposed policy from One Nation, workers could divert a portion of their superannuation to help cover their rent or mortgage payments. The policy allows individuals to set aside a quarter of their super for three years, with employers and super funds both contributing to the fund. One Nation leader Pauline Hanson stated that people should have the choice on how their superannuation is used, emphasizing that it won't touch their existing super.

The move aims to provide financial relief, leaving more funds for essential expenses like groceries, power bills, and raising a family. Currently, early superannuation releases are only allowed for specific compassionate reasons, with 67,900 releases valued at over $1.4 billion in the 2024/25 financial year. One Nation MP Barnaby Joyce acknowledged the growing trend of early superannuation withdrawals and denied concerns about workers being unable to assess the policy's financial impact.

The proposal comes after One Nation urged a relaxation of superannuation access rules for those facing financial crises. Treasurer Jim Chalmers argued that the policy would make workers poorer, cutting their super and economic security. Social Services Minister Tanya Plibersek criticized the proposal, alleging it seeks to "raid" superannuation funds and opposed the party's stance on equal pay for equal work.