ASFA: Super access will not resolve home affordability issues

A recent government draft proposal for homeowners to gain access to their Superannuation to purchase property has been under fire from various organizations, recently from the Association of Superannuation Funds of Australia (ASFA), citing that gaining early access to Super will not resolve home affordability issues.

ASFA suggested that the problem lies on land release, zoning and housing assistance funding issues and the decrease or removal of stamp duty. Gaining early access can jeopardize retirement, where even the existing 12% compulsory contribution is not enough for people to retire comfortably.

Read more about this on the Money Management website.