Is this celebrity's claims about superannuation real? Expert shares her insights
- Replies 2
Australians are no strangers to the ups and downs of the financial world.
From the fluctuating ASX to the latest cyber attack targeting retirement funds, it's enough to make anyone's head spin.
Amidst this whirlwind of financial news, a wild claim recently made rounds online that sparked everyone's concern.
A recent claim by former reality TV star Estelle Landy stated that superannuation is 'nothing but a scam'.
However, before anyone starts stuffing their savings under the mattress, a financial expert immediately shed light on these claims.
Finance expert Sarah Megginson stated that superannuation is not a scam.
It's a government-supported retirement savings scheme that was first introduced in 1992.
Since then, it has helped countless Australians save for retirement by putting away money during their working years.
These investments then grow over time.
Ms Landy's recent claim came from a place of frustration and misunderstanding.
While no superannuation is perfect, labelling the scheme a scam overlooked its fundamental purpose for millions of Australians.
Megginson, a personal finance expert with a passion for empowering women, found the claim disheartening.
According to Finder's State of Women Wealth Report 2025, women have been facing unique challenges when it comes to financial security and wealth.
The findings highlighted the stark disparities between men and women in terms of wealth and financial opportunities.
The reports first stated that 50 per cent of men are more likely to ask for a pay rise compared to women.
Whenever women receive pay raises, it's also less than what men often receive.
On average, female employees get an average raise of $2,424 compared to men who receive an average of $4,000.
Additionally, Australian women hold 39.5 per cent less average net wealth than men.
A staggering 35 per cent of women aged 65 and above have less than $1,000 in savings, compared to 22 per cent of men.
The most shocking part of this report was that these discrepancies even exist among children.
Girls receive less pocket money than boys, earning $7.50 per week on average compared to $10.30 for boys.
Listen to Estelle Landy's claim here:
Source: @estelleey/Instagram
Despite these challenges, women were seen as savvy investors who often outperformed men with their investment portfolios.
Given these hurdles, women, especially seniors, do not need the added burden of misinformation about superannuation.
Despite these explanations from Megginson, Landy has garnered support from people on social media.
Regardless, superannuation should be seen as a tool that, when used effectively, could provide a more secure financial future for everyone.
What do you think of this debate? Have you ever had doubts about superannuation? Share your thoughts and opinions with us in the comments below!
From the fluctuating ASX to the latest cyber attack targeting retirement funds, it's enough to make anyone's head spin.
Amidst this whirlwind of financial news, a wild claim recently made rounds online that sparked everyone's concern.
A recent claim by former reality TV star Estelle Landy stated that superannuation is 'nothing but a scam'.
However, before anyone starts stuffing their savings under the mattress, a financial expert immediately shed light on these claims.
Finance expert Sarah Megginson stated that superannuation is not a scam.
Estelle Landy (left) and Sarah Megginson (right) shared their thoughts about superannuation. Image Credits: Instagram
It's a government-supported retirement savings scheme that was first introduced in 1992.
Since then, it has helped countless Australians save for retirement by putting away money during their working years.
These investments then grow over time.
Ms Landy's recent claim came from a place of frustration and misunderstanding.
While no superannuation is perfect, labelling the scheme a scam overlooked its fundamental purpose for millions of Australians.
Megginson, a personal finance expert with a passion for empowering women, found the claim disheartening.
According to Finder's State of Women Wealth Report 2025, women have been facing unique challenges when it comes to financial security and wealth.
The findings highlighted the stark disparities between men and women in terms of wealth and financial opportunities.
The reports first stated that 50 per cent of men are more likely to ask for a pay rise compared to women.
Whenever women receive pay raises, it's also less than what men often receive.
On average, female employees get an average raise of $2,424 compared to men who receive an average of $4,000.
Additionally, Australian women hold 39.5 per cent less average net wealth than men.
A staggering 35 per cent of women aged 65 and above have less than $1,000 in savings, compared to 22 per cent of men.
The most shocking part of this report was that these discrepancies even exist among children.
Girls receive less pocket money than boys, earning $7.50 per week on average compared to $10.30 for boys.
Listen to Estelle Landy's claim here:
Source: @estelleey/Instagram
Despite these challenges, women were seen as savvy investors who often outperformed men with their investment portfolios.
Given these hurdles, women, especially seniors, do not need the added burden of misinformation about superannuation.
Despite these explanations from Megginson, Landy has garnered support from people on social media.
Regardless, superannuation should be seen as a tool that, when used effectively, could provide a more secure financial future for everyone.
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