An ABC financial reporter, who mentioned that the Industry funds will suffer the most from the lax criteria required to access the funds.
The retail funds are less likely to suffer, as they are less likely to have tradies or casual workers on their books who have been laid off. The young folks won’t give a stuff about the consequences to others, but will see it as an opportunity to get access to locked monies.
Over 600,000 applications have already been lodged to get to access to their money.
600,000 by $20,000 equates $12 billion out off the Super funds
