{"id":898364,"date":"2026-09-20T01:24:15","date_gmt":"2026-09-20T01:24:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/898364\/"},"modified":"2026-09-20T01:24:15","modified_gmt":"2026-09-20T01:24:15","slug":"one-nation-super-policy-could-cut-retirement-savings-by-50-billion-according-to-analysis-by-labor","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/898364\/","title":{"rendered":"One Nation super policy could cut retirement savings by $50 billion, according to analysis by Labor"},"content":{"rendered":"

New analysis of One Nation\u2019s superannuation proposal shows the policy could see up to $50 billion diverted from retirement savings, according to Labor.<\/p>\n

The analysis, provided to News24.com.au, draws on ATO and APRA data showing 14 million people with $130 billion in employer super contributions in the year to June 2026.<\/p>\n

Labor estimates that if the seven million workers eligible for One Nation\u2019s super policy tap into the scheme, $16 billion in super contributions could be withdrawn in a single year.<\/p>\n

The figure could blow out to almost $50 billion over three years, according to the analysis.<\/p>\n

Treasurer Jim Chalmers has framed the analysis as evidence the proposal could materially reduce retirement savings.<\/p>\n

\u201cOne Nation\u2019s super heist would rip off Australian workers to tune of $50 billion,\u201d Mr Chalmers said.<\/p>\n

\u201cIt\u2019s now beyond doubt that the Liberals, Nationals and One Nation are all hatching a plan to cut your super.<\/p>\n

\u201cThis will end super as we know it and make Australians poorer. It means less money and less economic security for millions of Australians in retirement.<\/p>\n

\u201cOne Nation, the Liberals and Nationals hate super because they hate workers. Labor is cutting income taxes for workers, boosting wages and strengthening super.\u201d<\/p>\n

In response to the Treasurer, Ms Hanson said Mr Chalmer’s “incompetent economic management” was responsible for the cost of living crisis”.<\/p>\n

“Now he wants to deny you a choice that could help you get through it. What does losing your home do to your retirement, Jim?” she said.\u00a0<\/p>\n

“Our Super Pay Boost would let eligible renters and mortgage holders take a quarter of their future compulsory super contributions as take-home pay for up to three years, with no additional tax.<\/p>\n

“That\u2019s about $44 more a week for a worker earning $90,500, or $82 for a working family earning $168,000 between them. When you\u2019re counting every dollar to keep a roof over your head, that\u2019s real help.<\/p>\n

“Now he\u2019s acting like a sock puppet for big superannuation funds on Lonsdale Street.”<\/p>\n

\"One<\/p>\n

News24.com.au recently revealed One Nation\u2019s shock plan to change the compulsory superannuation system.<\/p>\n

The proposal would allow people paying rent or a mortgage to divert one quarter of their future super contributions into their take-home pay for up to three years.<\/p>\n

Under the proposal, employers would make the full 12 per cent super contribution, but three per cent could be received as wages, with 9 per cent going to super.<\/p>\n

Pauline Hanson said the measure would allow workers to access more of their own money while facing cost-of-living pressures.<\/p>\n

\u201cOne Nation will allow you to choose to receive one quarter of your future compulsory super contributions in your take-home pay,\u201d Ms Hanson said at the time.<\/p>\n

\u201cSuper is currently 12 per cent of your wages. Your employer will still pay the full 12 per cent.<\/p>\n

\u201cBut if you take the boost, one quarter of this contribution will be paid directly to you by your super fund. And you won\u2019t be slugged with your normal income-tax rate.\u201d<\/p>\n

One Nation estimated a full-time worker earning about $90,500 could receive around $2,300 a year, or $44 a week, in additional take-home income.<\/p>\n

After the announcement, Labor attacked One Nation, accusing Ms Hanson of \u201ccoming after\u201d people\u2019s superannuation.<\/p>\n

Mr Chalmers claimed One Nation has sought to dismantle the entire superannuation system.<\/p>\n

\u201cPauline Hanson and One Nation confirmed they will go after your super,\u201d Mr Chalmers said in an email to supporters.<\/p>\n

\u201cThat\u2019s what we\u2019re up against at the next election. One Nation, the Liberals and the Nationals, all lining up against your super.\u201d<\/p>\n

Ms Hanson later accused Mr Chalmers of being \u201cfull of s***\u201d in a social media post about his criticism.<\/p>\n

\u201cOne Nation doesn\u2019t support scrapping super, we just think people should be able to use their super when in financial distress instead of losing their home,\u201d she said.<\/p>\n

\u201cLabor would rather you end up homeless. We don\u2019t expect you to chip in anything to our campaign to do the right thing by Aussie families.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"New analysis of One Nation\u2019s superannuation proposal shows the policy could see up to $50 billion diverted 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