Stephen Mayne

speaker

4,168 appearances 11 recordings 1 series first heard Apr 2026 last heard 8 Sep

Stephen Mayne’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 11 in all, peaking in Jul 2026 with 4.

Appearances

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The Money Café with Alan Kohler · Housing's Perfect Storm · 8 Sep 2026 podcast

Well done, Liam.

The great man agrees with you.

Good point.

Now, ACT Luke says, regarding the challenge of impacting the spending of older folk with interest rate hikes, is it possible that the compulsory super system is going to be an even bigger contributor?

to limiting the effect of interest rate moves by the RBA.

Much is said about the wealth effect of housing, but increasingly we're also now seeing the wealth effect of super balances.

And as we enter a period where retirees will have access to the compulsory super, it's an interesting point, isn't it, Alan, that when you turn 60 or 65, you can access a big pile of super, and so the oldies are just going to get richer, aren't they?

Because every year, the average super balance for those hitting 1665 is higher because of the compounding effect that super only really started in the early 90s.

And therefore, old riches are not going to be affected as they access their super.

But I guess the point is, because it is locked up until you're 60 or 65.

Anyone who's under 60 or under 65 doesn't have access to the super.

It will affect them.

But do you agree with this argument from ACT, Luke?

But 80% of people over 65 are still accessing some form of pension.

So super really has, you know, there's 4.8 trillion of super.

But if the goal was to get people off the pension, then why on earth are 80% of people over 65 still accessing some form of pension?

Is the pension system too generous, too accessible?

Or is there so many super balances that are just multi-millionaires, rich people using it as a tax shelter, that the $4.8 trillion is not really representative and there's a large lump of people who don't have a lot of super and go straight on the pension?

I do think a lot of people are going to get access to the super and the first thing they're going to do is pay off their mortgage.

it's not like people are going to be getting to 65, have no mortgage, and then just super is just this cash sort of deluge that comes on top.

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