Chris Bowen says the role of superannuation needs to be reconsidered due to the aging population . He has proposed that first home buyers use these savings to buy a property . But those who are opposed to the idea say this will only increase housing costs . The proposal comes after the release of the Abbott government 's Intergenerational Report . It gave a snapshot of the next 40 years , showing Australians can expect to live into their mid-90s in 2055 .
Treasurer Joe Hockey says the role of superannuation needs to be reconsidered due to the aging population . He has proposed that first home buyers use these savings to buy a property . But those who are opposed to the idea say this will only increase housing costs . The proposal comes after the release of the Abbott government 's Intergenerational Report . It gave a snapshot of the next 40 years , showing Australians can expect to live into their mid-90s in 2055 .