A proposal slated by Pauline Hanson to allow Australians to withdraw more from their superannuation would “decimate” the retirement income of millions of Australians, Treasurer Jim Chalmers warned this morning.

“[Superannuation] is a really important part of our economic security and retirement incomes for Australian workers,” Chalmers told Seven’s Sunrise.

“That’s at risk now.”

The treasurer characterised Hanson’s suggestion yesterday – that the rules for superannuation withdrawals should be loosened – as an attack on the working class.

“One of the most important features of our superannuation system is this idea of preservation. This idea that with compounding investments over time, Australian workers can access the decent retirement incomes that they need and deserve after a lifetime of work … This is another attack on workers, on their incomes.”