MRC Submission: Senate Economics References Committee Inquiry

the mrc advocates for early access to superannuation for first home buyers

Published: February 2024

Compulsory superannuation was created with the intention of creating a savings nest egg for Australians to retire with and help them live an independent and high-quality retirement. But with only minor decreases in the percentage of retirees drawing a full pension and the increase in those accessing other government benefits, we must look to other ways to harness superannuation.

This submission outlines the benefits of homeownership in retirement and highlights the current barriers first home buyers face in saving for a deposit. It draws attention to the Coalition’s Super Home Buyer Scheme proposed at the 2022 Federal Election as a means of helping overcome these barriers.