Treasurer Jim Chalmers on Wednesday will release projections from the government’s Intergenerational Report to bolster Labor’s argument against One Nation’s proposal to allow homebuyers and renters access to some of their superannuation.

Chalmers casts the next federal election as an “existential moment” for Australia’s compulsory superannuation scheme, which was a major Labor reform.

In the IGR, to be released on September 21, Treasury projects the number of Australians over age pension age will almost double to about nine million by 2066. But the share of this cohort receiving a pension or income support payment is projected to fall, from 66% last year to 52% by 2066.

Spending on age and service pensions is projected to decline from 2.3% of GDP last year to 1.8% in 2066.

The IGR, prepared by Treasury, maps out how economic and social changes are likely to unfold over the next four decades. There have been five previous reports, with the first in 2002.

In a speech to the Super Members Council, released ahead of delivery, Chalmers says superannuation “will be front and centre” of the report.

That’s because super is absolutely........

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