Super Responsible

Team Name

Marvellous Creations Hacking Data

Team Members

Project Description

Super Responsible is a customisable and user-friendly calculator that enhances consumers’ awareness of the impacts of early withdrawal of superannuation funds.
By combining financial data from the ATO and ABS, and using historical data for CPI and superannuation returns, it is possible to depict the potential long-term financial impacts of early withdrawal of superannuation. Through visual representations of potential losses and concrete examples of the impact on quality of living, we aim to educate the general public on the potential detriments of early withdrawal of superannuation, and provide links to relevant services they can approach instead.

Team Members:
🕸️ Håkan Sjölin | Web Developer
📹 Patrick Biedrzycki | Videographer
👩‍🎨 Styliana Sarris | UX Designer
🤩 Zelia Chiu | General Rockstar

Data Story

Is a bird in hand really worth two in the bush?

When the world feels like it is coming to an abrupt, pandemic-driven end, it can be tempting to withdraw superannuation early to meet financial demands in our lives. It can also be difficult to understand the significant impacts a small withdrawal can have on a person’s long-term financial standing. We set out to educate the public, simplifying large amounts of data and calculations into a visual and concrete description of the potential losses.

Data is everywhere but can be time-consuming for the average consumer to trawl through – we’ve done that for them!

Some of the data sources we have used:
- ATO Taxation Statistics, 2017-2018 for information about typical salaries and tax levels.
- ASFA Superannuation Statistics, June 2020 for information about average superannuation returns

The most important part of this calculator is providing alternative avenues other than early withdrawal of superannuation. Here, we inform the public on current government subsidies available and ways to access them.

So, is a bird in hand really worth two in the bush?