More than 2.6 million Australians tapped their superannuation accounts under the Morrison government’s $38 billion COVID early-release stimulus program, according to a new study.

George Washington University Assistant Professor of Economics Steve Hamilton was an author of the study, and he told Gary Adshead on 6PR Mornings one in six Australians withdrew from their superannuation under the scheme, with much of the money used to gamble and buy furniture and takeaway meals.

“The people who decided to do this were willing to accept a huge cost to their future retirement savings,” Mr Hamilton said.

Press PLAY to hear more about how the scheme has potentially affected your super