Council on the Ageing Australia (COTA) reports that over the past five years, more than 150,000 Australians have accessed their superannuation early through the Australian Taxation Office's compassionate release scheme to fund medical treatments, with dentistry, IVF, and weight management being the most common.

Patricia Sparrow, Chief Executive Officer of COTA Australia, expressed concern about the increasing number of people using their retirement savings for these purposes.

Read more here.

Source: AHHA Email Newsletter 27 September 2024