Queenslanders pulled out $9.1 billion from super during COVID pandemic

Worrying new figures have shown that Queenslanders made up a quarter of Australians who took money from their super during the COVID-19 pandemic.

About 617,000 Queenslanders pulled out more than $9.1 billon from their superannuation accounts in the 2020 period, a figure that's left experts worried it could have huge impacts on the state's future retirement savings.

As of January 2021, Australians had taken $36.4 billion from their super accounts, with Queenslanders making up about 25 per cent of participants in the scheme.

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The program allowed those who lost jobs or income during the pandemic to withdraw up to $10,000 to help with the hardship and help them stay afloat, with the average payment being $7638.

Bonnie Rayner, 24, was among many who took advantage and withdrew money from her superannuation last year – hoping to help her husband start his own business.

"I just thought we could get it and live a better life now," Ms Rayner told 9News.

"We just did the budget last night; it's going really well."

It's an act that's worried financial advisor Olivia Maragna, who predicted "some hurt" in the next 20-30 years.

"If people have literally spent it or not used those funds – it could mean thousands if not hundreds of thousands of dollars difference when it comes to retirement savings down the track," Ms Maragna told 9News.

Expert recommendations to those who took funds out include trying to make up the extra money by taking advantage of government schemes and tax concessions for making voluntary extra payments.

"You can top up your own super and the government can add extra super into your superannuation fund for you," Ms Maragna added.

"Or you can talk to your employer about salary sacrificing some extra funds into superannuation."