The federal government is locked in a fierce internal debate whether to keep,delay or cancel a scheduled increase in the superannuation guarantee,that is legislated to rise incrementally from 9.5 per cent to 12 per cent by 2025.
Mr Wilson,who will on Monday launch a social media campaign pushing the benefits of home ownership,toldThe Age andThe Sydney Morning Heraldthat compulsory superannuation had reversed the normal stream of life events and now prioritised saving for retirement ahead of saving for a house.
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“Most Australians don’t think it should be a choice between home ownership and super,but the reality is every dollar locked in super can’t be used to buy a home,"Mr Wilson,the chair of federal parliament's economics committee,said.
"If Australians buy a home they can start saving for their future retirement,whereas they can’t start saving for a home from retirement”.
Several backbench MPs,including NSW senator Andrew Bragg,Jason Falinski and Dave Sharma have previously argued the government should consider an extension of its current First Home Super Saver scheme,which allows the withdrawal of voluntary super contributions up to $30,000.
Mr Wilson said it was"illogical"that a 40-year-old had $100,000 in superannuation savings but did not own their own home.