One Nation leader Pauline Hanson has unveiled a proposal that would let millions of Australian renters and mortgage holders take a slice of their future compulsory superannuation contributions as extra take-home pay for up to three years, rather than having it all funnelled into retirement savings. The plan is aimed at easing cost-of-living pressures, with Hanson arguing that people are struggling now and need financial relief immediately rather than waiting until retirement, though the idea has drawn criticism from the Labor government over concerns it would leave workers worse off in later life.

Under the scheme, employers would still pay the full 12 per cent compulsory super contribution, but eligible workers could opt to receive three percentage points of that as wages while the remaining nine per cent continues into their super fund; those happy with the status quo could keep the full 12 per cent going to super. Modelling suggests a couple earning a combined $168,000 a year would gain about $82 a week, while an individual on $90,500 would receive roughly $44 a week. Social Services Minister Tanya Plibersek said the plan amounted to encouraging people to raid their super instead of pushing for pay rises, while One Nation's Barnaby Joyce countered that the extra cash could help people avoid losing their homes, which he called the most important retirement asset of all.