'Hands Off the Super Fund,' Young Perth First Home Buyers Advised

PM Tony Abbott thinks using superannuation to fund first home buyers in Perth is a “perfectly good and respectable” idea, but he also admits that such a proposal entails several issues that need to be addressed. Although Mr Abbott was open to debating superannuation’s pros and cons, various groups, experts, and even members of his staff believe it would bring more trouble than good. Under the national retirement savings policy, which collects 9.5 percent of an employee’s salary, the super fund can only be accessed upon retirement (between 55 and 60 years old) or reaching 65.

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