Australia. Super top-up: Funds call for $5000 payments for low-income earners

The federal government should make one-off contributions of up to $5000 into the superannuation accounts of low-income earners who accessed their retirement savings early, a lobby group has argued. The Australian Institute of Superannuation Trustees (AIST) on Monday released new analysis showing almost one million young workers who accessed the government’s early super access scheme had either emptied their accounts or reduced their balances to less than $1000. Amid mounting evidence of the recession’s disproportionate impact on young people,...