Tax office lashes ‘dodgy websites’ over false superannuation claims
Social media outrage has erupted over false claims of changes that will make Australians wait longer to access their superannuation.
The age Australians can access their superannuation savings will not start increasing to 70 from 2025, despite claims that are winding up social media users.
The Australian Taxation Office says the age at which retirement savings in super can be accessed is set at 60 and will not change from June 1, 2025.
The claim is being repeated in Facebook posts from outraged social media users saying the recently re-elected Labor government plans to increase the superannuation preservation age by 10 years by 2030.
“Who the F— do these governments think they are raising the preservation age on superannuation,” one post reads.
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“At no time did I get asked or anyone get consulted. They just pass these things and nobody is told.”
An example of the posts shared on social media. Image: AAP
Another post says: “Your super being pushed further out of reach of retires from June this year. They want you to work until you die.”
The posts include screenshots from a suspicious website, claiming that after June 1, 2025, the age will gradually increase to 70 by 2030.
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The ATO, which manages key elements of the superannuation system, said in a statement that the claims originated from “a proliferation of dodgy websites sharing fake news”.
Australia’s preservation age – the earliest age at which people can access their superannuation, barring exceptional circumstances – is set at 60.
People born between July 1, 1960, and June 30, 1964, have differing preservation ages under changes announced in the 1990s that were progressively phased in.
But by July 1, 2024, everyone born during that period had turned 60, meaning Australia’s preservation age is effectively 60 for all.
ATO deputy commissioner Emma Rosenzweig said claims that the age would change from June 2025 were unfounded.
“This is classic fake news,” she said in a statement to AAP FactCheck.
Rosenzweig urged people to consider the source of information they see about changes to superannuation. If in doubt, they should check trusted sources such as the ATO website or their super fund website, registered tax agent or licensed financial adviser.
“Think twice before acting on information heard from third-party sources, including non-official websites or on social media,” she said.
One change to super that will kick in from July 1, 2025, relates to the super guarantee – the percentage of a worker’s wage employers are required to pay into superannuation accounts
From then, the super guarantee will rise from 11.5 per cent to 12 per cent, the ATO website said.
AAP FactCheck is an accredited member of the International Fact-Checking Network. To keep up with our latest fact checks, follow us on Facebook, Instagram, Threads, X, BlueSky, TikTok and YouTube
