Depleted super needs cash boost: AIST

Close to a million workers closed or drained their super through the government’s early release scheme, and one lobby group wants to see cash handouts used to close the gap.

by Shared by InvestorDaily | 26 Jan, 2021

Analysis conducted by the Australian Institute of Superannuation Trustees (AIST) shows that nearly 1 million workers under 35 have either closed their super accounts or now have less than $1,000 in super due to the early release scheme. Some 73,000 Australians have also lost insurance cover linked to their account.