One Nation pushes for early super access for Australians paying rent or mortgage

Australians with a mortgage or paying rent would be given a choice to divert a portion of their superannuation to their take-home pay for up to three years under a One Nation proposal.

Under the policy, the full 12 per cent compulsory super contribution would still be paid by employers, but 3 per cent would be paid directly to a person by the super fund if they opt in. The payments would also remain subject to the concessional tax rate of 15 per cent, rather than the higher personal income tax rate.

One Nation leader Pauline Hanson said the average full-time worker earning about $90,500 would get an extra $2,300 in their pocket each year. That works out to about $44 a week, which Hanson said would provide “breathing room”.

Health Minister Mark Butler said changing those settings would be an “absolutely terrible plan” and pointed to the Morrison government’s experiment with allowing people to access more of their super during the COVID pandemic.

But Deputy Liberal leader Jane Hume dismissed the proposal as nothing more than a “headline” and said One Nation had questions to answer about how the policy would interact with a person’s super balance or their concessional caps. Nationals MP David Littleproud also said there was a serious risk of “unintended consequences” of the proposal, including the potential for higher inflation.