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RBA to bail out industry super funds, page-24

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09/04/20

11:28

Post #: 43969057
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Originally posted by MirCat: ↑

From Yahoo Finance
Chris Bates mortgage broker and financial adviser at Wealthful is not a fan of being able to access your super.“Super is not a tool to support people now it is there to support people when they are older.“

If you really are in financial hardship, then you can already access your superannuation. I don’t think the government needed to change the rules again as it just makes people even more distrusting of the system.

Mr Bates adds that as superannuation funds are forced to sell assets because of the early withdrawals or as some members move to cash, it means they are doing so at the worst time for all members.
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They also can double dip by getting $20 grand, the first $10 grand before the end of Jun and another $10 grand in July this year.

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Sounds like commonsense.
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