Withdrawals of $31 Billion Threaten Australian Pension Returns
- People in financial stress given early access to savings
- Funds may be left with less cash to buy depressed assets
A pedestrian walks along the Sydney Opera House forecourt during a partial lockdown in Sydney on April 3.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
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The world’s fourth-biggest pension pool is bracing for multi-billion dollar outflows and diminished returns after Australia’s government allowed people hit by the coronavirus outbreak to dip into their retirement savings early.