Former head of the Grattan Institute John Daley has backed “the core” of One Nation’s controversial superannuation plan to allow people to withdraw part of their future contributions.

Daley, now a private consultant, worked extensively with colleagues at the Grattan Institute, a non-partisan policy think tank that he headed from 2009 to 2020.

He told The Conversation on Tuesday: “The core of [the One Nation] plan is right. The idea that people don’t need to save 12% [of their wages for retirement] is true for the vast majority”.

Under Pauline Hanson’s proposal, renters and mortgage holders would be able to withdraw up to 3% of future superannuation contributions for up to three years. This money would continue to attract the present concessional tax rate, while employers would continue to put in the current 12% contribution.

Daley said 12% exceeded what was needed for an adequate retirement income. It meant that either people had a higher standard of living in retirement than in pre-retirement, or that they left a material inheritance.

Daley said the “break even” point, where someone had a similar standard of living before and after retirement, was a contribution rate of about 9%.

But Daley said he would “part company” with some aspects of the One Nation plan.

He said to allow everyone to withdraw 3% at once would be inflationary, so such a change should be phased in to minimise the inflationary impact.

Also, the money withdrawn should not receive the concessional tax treatment, he said. The tax concession was given because the superannuation contribution reduced future government spending on the........

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