More than 10,000 Tasmanians drained their superannuation during COVID-19

Almost $600 million has been drained from super balances of Tasmanians and more than 10,000 of the state’s workers have emptied their savings, new analysis on the early release of super scheme reveals.

Industry Super Australia analysis shows about one in five Tassie workers have accessed the scheme withdrawing $587 million from super, at an average of $7,719 per application.

Tasmanians have made an estimated more than 78,800 early super redemption applications.

Those in the Dennison electorate withdrew the most – $133 million from more than 17,500 applications, and 3,300 people from the Hobart-based electorate have completely drained their retirement balance.