The number of Riverina residents accessing their superannuation early has continued to rise, with just under 20,000 people withdrawing a total of more than $196 million.
The federal government's emergency measure designed to help people under financial pressure saw the average Riverina applicant withdraw $7526, with 3597 people completely draining their account.
Riverina MP Michael McCormack said the early super access scheme was "well received" as a response to "unprecedented economic challenges".
Labor duty Senator for the Riverina Deborah O'Neill said it was a "disgrace" that thousands of families in the region now had no retirement savings when wages were stagnant and employer super contributions would not rise.
The previous September figures found 17,313 Riverina residents had dipped into their superannuation funds early, with 3273 people draining their accounts entirely.
Navigate Advisors director and senior financial planner in Wagga, Gavin Lamb, said the future impact on people who accessed their super early would depend on how they spent the money.
"The pro [of early access] is of course if you need the money, you need the money and you would hope that individual households have the financial acumen to know whether they need it or not," he said.
"By accessing it, you would hope that it gets used wisely. We have heard stories, anecdotally, in the community of young people taking it out and buying a new car; that's not necessarily the best use of the money for the economy of for themselves as cars are a great loss-making asset in the short term.
"The long-term implications of that $10,000 being withdrawn are pretty significant, depending on how old you are it could be 40 to 60 grand lost because of the 10 grand you took out. I would hope people used that money to keep the wolves at bay as it's not meant to be a spending spree, just for food shelter and medical issues."
Mr Lamb said the government's overall financial response to the pandemic was "exemplary" and the superannuation early access was "a single part of many".
The Riverina figures were part of a Industry Super Australia study that was produced as part of a campaign for a legislated increase to employer superannuation contributions.
The government has not guaranteed that it will use the May budget to proceed with a employer superannuation contribution increase from 9.5 per cent to 10 per cent on July 1.
"The young Riverina workers who sacrificed their retirement savings to support themselves during a global pandemic had been promised the government would give them a super boost," Industry Super Australia chief executive Bernie Dean said.
"Ripping it away from them would be a cruel double blow, it would leave them with far less at retirement and saddle these young workers with a whopping pension bill they pay for through higher taxes."
"Riverina workers have a right to know if their local MP, Michael McCormack, backs a secret plan to cut super and to lump tens of billions in higher pension costs around their necks."
Mr McCormack said the early release of super scheme "has been very well received by Australians" and "has been a lifeline for millions of Australian families doing it tough during the pandemic.
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"For many, being able to withdraw a portion of their own money has let them pay down mortgages to keep a roof over their heads and to put food on the table," he said.
"The scheme was not compulsory; this is a flexible option and almost three million Australians weighed up the decision and decided that withdrawing their super was the best financial decision for them.
"This isn't pocket money, or taxpayers' money, which the government can decide what Australians should or shouldn't spend it on. This was an urgent measure to help during unprecedented economic challenges.
"We know the majority of Australians have spent this money paying down their mortgages, paying down debt and paying off credit cards."
Senator O'Neill said the "3597 residents of the Riverina who had a retirement safety net now have a $0 balance" had created "a lot of Australian families at risk".
"Riverina residents who are doing it especially tough and had to access their super early did so under the promise that this Liberal National government would look after them in their retirement, with a decent income. But that's not what is happening," she said.
"Michael McCormack's solution to help Riverina Residents who accessed their superannuation early is to further undermine their future retirement with the decision not to go ahead with the legislated increase in superannuation on July 1. It's a disgrace.
"Setting all Australians up properly for retirement is just not on the agenda of this incompetent government."