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Nah, pretty sure "extra" funds in the actual loan account would simply count as a reduced balance owing, they'd be treated differently to funds sitting in a separate offset account. Having said that, on further reflection, I would think that the Australian Government's deposit guarantee would...

I'm pretty sure it'd be the latter. :o Your offset account would be treated the same as all other deposits, ie part of the bank's assets, and you'd get back a percentage, the same as all the other unsecured creditors. But as you say, you'd almost certainly still be considered to owe the...

Wow, that is really awful. A salient reminder that the adage about not putting all your eggs into one basket applies to bank deposits as well as things that are more obviously classed as "investments".

I think super is infinitely preferable to the pension, even if the amounts end up being comparable. 1) It's funded. The amount paid out when someone retires is sitting there waiting to be used. The government doesn't save for pensions; it funds them out of general revenue. This creates the...

That's really sad that so many people are so desperate for pension day to come. :(