It's a shame the super system in Australia is being undermined by early access. Spoke to a car dealership recently and their business has been through the roof because of it.
Car dealers are through the roof because the government allowed early access to a portion of it if "in distress" due to Covid-19 and lockdowns. However, many people who weren't in distress took the money (their own retirement money, remember) and bought a new car.
The political reception was... poor. Had to ditch it under pressure from AARP and attack ads from Democrats.
Of course. Let people have defined benefits. Stop trying to turn every single angle on retirement into defined contribution.
https://www.svb.com/blogs/svb-private-bank/understanding-qua...