Your super can recover from pandemic losses
16 May 2022
Your super may have taken a hit during the COVID-19 pandemic, but there’s ways you can rebuild and recover for your future.
There’s no doubt Australians’ superannuation suffered during the past two years of the pandemic.
Millions withdrew funds from their super in 2020, taking out up to $20,000 each. Many lost jobs and had fewer working hours throughout the pandemic, limiting super contributions. And perhaps most damaging of all, many switched investment options as markets became rocky, and unintentionally ended up losing more than if they didn’t switch.
In short, the COVID-19 pandemic of the past two years damaged every aspect of Australians’ financial wellbeing, as explained in the ANZ Roy Morgan Financial Wellbeing Indicator.