A Super Idea?

Hi Scott

I have just seen a news item on a proposed policy which could see victims of domestic violence allowed to withdraw up to $10,000 from their super. Typically victims of domestic violence are women, and women on average have less super accumulated, due to raising families. I am supportive of any initiative to help victims of violence, but is this likely to help or hinder them financially in the long run?

Theresa

Hi Theresa,

Of course! Raiding your super early will hurt you financially in the long run.

Yet I also agree with Superannuation Minister Jane Hume, who says that it’s simply another tool, and if it encourages women to leave a dangerous, abusive relationship then that’s a good thing.

However, as someone who works in the community sector and has helped women in this very situation, I don’t think accessing 10 grand from super is high on their priority list.

What I think should be on the Government’s priority list is properly funding emergency housing, legislating for paid family violence leave, and doing everything they can to help these courageous women (and their kids) find safety and security.

Yes, there is a cost to properly fund this … yet there is an even bigger cost if we don’t.

Scott.