Australia’s One Nation has proposed allowing roughly 7 million renters and mortgage holders to redirect one-quarter of the compulsory 12% superannuation guarantee into take-home pay for up to three years. The diverted amount would remain taxed at the concessional 15% superannuation rate, with no requirement that it be spent on housing. One Nation estimates a worker earning A$90,500 annually would receive about A$2,300 extra a year, while the Super Members Council estimates a typical 30-year-old could retire A$25,000 poorer. Treasurer Jim Chalmers called the plan a full-frontal attack on superannuation, while Liberal leader Angus Taylor and Social Services Minister Tanya Plibersek also opposed it. The proposal has intensified debate over immediate cost-of-living relief, inflation and the design of Australia’s A$4.4 trillion retirement system. Some economists argue the current 12% rate may encourage excessive saving and requires reform, but warn the plan could reduce retirement security and increase future age-pension costs.