Chalmers Says Next Election Will Be ‘Referendum on Super’ After One Nation Plan
Jim Chalmers criticised One Nation’s proposal to let people tap into their super to pay off mortgages, saying it would leave Australians worse off.
Treasurer Jim Chalmers has declared the next election will be a “referendum on super” following a One Nation proposal. This plan would allow wage earners to divert a quarter of their future compulsory super contributions, equivalent to 3 percent of the current rate, into their take-home pay for up to three years to cover housing costs. While employers would still contribute the full 12 percent, 9 percent of the mandatory rate would remain in super funds.
- One Nation proposes allowing wage earners to access a portion of their future super contributions.
- This access would be for up to three years, intended for rent or mortgage payments.
- The proposal suggests redirecting 25% of future compulsory super contributions (3% of the 12% rate).
- Employers would continue to pay the full 12% rate.
- Treasurer Jim Chalmers frames the next election as a “referendum on super” in response to this plan.
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