{"id":25609,"date":"2020-06-05T09:49:03","date_gmt":"2020-06-04T21:49:03","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=25609"},"modified":"2020-06-05T09:49:03","modified_gmt":"2020-06-04T21:49:03","slug":"scott-morrison-urged-to-let-workers-use-superannuation-to-buy-property","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/scott-morrison-urged-to-let-workers-use-superannuation-to-buy-property\/","title":{"rendered":"Scott Morrison urged to let workers use superannuation to buy property"},"content":{"rendered":"

PHOTO: Aussies have already withdrawn $14 billion from their super accounts thanks to coronavirus. Picture: Supplied Source:istock<\/em><\/span><\/strong><\/p>\n

Workers have drained $14 billion from super already \u2013 now the PM is being urged to allow them to use retirement savings to buy property<\/p>\n

Scott Morrison is being urged to allow Australians to drain their retirement savings to buy property with a Liberal MP declaring it\u2019s \u201cmore important\u201d than superannuation.<\/p>\n

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After allowing workers to empty up to $20,000 from their super accounts during the coronavirus crisis, there are fresh calls to allow workers to access more cash to buy a house.<\/p>\n

\"\u00a0COVID-19\u00a0stimulus<\/a><\/div>\n
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Australians are set to be handed $25,000 to renovate their homes or build new properties<\/a><\/h2>\n<\/header>\n<\/div>\n

The COVID-19 measures have seen workers rip $14 billion from super accounts with some workers completely emptying their accounts\u00a0before using the cash for online gambling.<\/p>\n

But former Liberal Party director and Senator Andrew Bragg writes in his new book\u00a0Bad Egg: How to Fix Super<\/i>, that the PM should go even further, arguing superannuation requires radical surgery and is gouging workers with high fees.<\/p>\n

\u201cThe system costs more than it saves. There should be more flexibility. Australians should be allowed to access super for a first home, a home is more important than super,\u201d he said.<\/p>\n

\u201cAt the very least, we should put the interests of working Australians first.\u201d<\/p>\n

Australians have invested $2.8 trillion in superannuation since it was made compulsory by the Hawke-Keating Government.<\/p>\n

Prime Minister Scott Morrison has previously rejected calls to allow workers to raid their super accounts to buy houses.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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