Not all beer and pokies: what Australians did with their super when COVID struck

By Nathan Wang-Ly, PhD Student, School of Psychology, UNSW Sydney
Ben Newell, Professor of Cognitive Psychology, UNSW Sydney

What happens when people withdraw their retirement savings early?

We’ve just found out.

During the first year of COVID Australians who faced a 20% decline in their working hours (or turnover for sole traders) or were made unemployed or were on benefits were permitted to take out up to A$10,000 of their super between April and June 2020, and a further $10,000 between July and December.

Five…

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