Renowned economist Janis Oshlejs claims on the social network X that residents in Australia were also allowed to withdraw their savings from the second pension level, but it brought no benefits: "In Australia, during COVID, it was allowed to withdraw part of the second pension level. The lower the education level, the more savings were withdrawn, and the money was mostly squandered. Savings were primarily withdrawn by low-wage earners, those who already had small savings, men, the unemployed, and rural residents, losing an average of 120,000 pension capitals. And Australians spent the withdrawn funds from the second level... on gambling, loans, etc., resulting in even greater income inequality, with no residual positive effect. Advocating for the withdrawal of the second pension level is simply harmful." It sounds unconvincing - if low-wage earners could use these savings to improve their standard of living, then there is nothing wrong with this withdrawal of savings.