Treasury is reviewing the rules around people accessing their superannuation early to pay for medical bills.
skyrocketing number of Australians are raiding their superannuation early to pay for medical bills including for weight loss surgery and IVF.
In 2000-2001 $42 million of early super was released compared to $290 million in 2016-17.
Four thousand Australians had applied for early release super on medical grounds in 2010-11 and that's grown to 15,000 in 2016-17.
Acting federal treasurer Kelly O'Dwyer said the rules hadn't been changed for 20 years and the government was undertaking a review which will report back in early 2018.
She said it was important to strike a balance between showing compassion and protecting retirement savings.
"Of course, we want to make sure that people have access to their money where it is appropriate," Ms O'Dwyer told reporters in Melbourne on Tuesday.
IVF and weight loss surgery were among the top reasons for people dipping into their super to pay for health bills...(More)
