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Millions who withdrew superannuation early spent longer unemployed, paid less: study

Millions who withdrew superannuation early spent longer unemployed, paid less: study

Millions of Australians who withdrew their superannuation during the pandemic were on average unemployed for longer and eventually paid less, a landmark study has found.

by Shared from ABC News | Sep 15, 2022

Superannuation is changing from 1 November: What you need to know

Researchers at the Australian National University (ANU) have studied the impact of the federal government’s early withdrawal scheme, which allowed people to access up to $20,000 of their superannuation in two instalments.

The Tax and Transfer Institute was given de-identified data including incomes, welfare payments, and superannuation balances over several years including before the pandemic.