The political debate over Australia’s $4.5 trillion superannuation system has turned personal, with One Nation leader Pauline Hanson accusing Treasurer Jim Chalmers of misleading voters.
The clash began after Chalmers accused the Liberals and One Nation of wanting to dismantle compulsory superannuation in a social media post to Labor supporters.
“Andrew Bragg wants to scrap your super and Pauline Hanson’s backing him. Labor built super. I won’t let them tear it down.”
Hanson hit back, saying One Nation was not proposing to scrap super, but wanted Australians to have greater access to their retirement savings during financial hardship.
“Jim Chalmers is full of s–t.
“One Nation doesn’t support scrapping super, we just think people should be able to use their super when in financial distress instead of losing their home.
Hanson said Labor would rather see people lose their homes than allow them to access their super in an emergency.
The One Nation leader has previously argued that Australians should be able to access some of their super for urgent financial needs.
Speaking this week, she said “the whole system is broken”, while the party’s finance spokesperson, Barnaby Joyce, said its superannuation policy was still being developed.
Superannuation has become a growing political issue, with several Liberal and One Nation MPs questioning aspects of the compulsory system.
Compulsory super was introduced in 1992 by then prime minister Paul Keating, with the aim of helping Australians build retirement savings and reduce reliance on the age pension.
Employers currently contribute 12 per cent of an employee’s wages into superannuation.
For most Australians, the money cannot be accessed until age 65, or from age 60 if they have retired.
The system has helped build a substantial pool of retirement savings, with super funds investing members’ money over many years.
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