Australia debates whether compulsory retirement savings are too high

Australia requires employers to put 12 per cent of workers’ earnings into retirement savings.

One Nation wants some renters and borrowers to be able to withdraw part of those contributions for up to three years.

Critics say taking money out now could leave people with less for retirement and increase future pension costs.

A study cited in the article says people contribute at the current rate may, on average, have more yearly income in retirement than while working.