Emergency super access creating $100 m aged pension hole decades ahead, fund manager warns

There's more evidence that the scheme allowing emergency access to superannuation at the height of the pandemic has been abused by some Australians. 

Depersonalised data from advisory firms AlphaBeta and Illion shows that some people dipping into their super didn't need the emergency cash and have been spending on discretionary items rather than necessities. 

Betashares chief executive Alex Vynokur says the current $30 billion raided by Australians translates to a $100 million budget hole decades ahead as more people are forced to rely on the aged pension system.