First-home buyers using some of their superannuation to help them buy a property could be financially better off in retirement, according to new modelling.

Modelling done by actuaries Michael Rice and Jonathan Ng, which was presented to the parliamentary committee looking at superannuation policies relating to home ownership, predicts homebuyers could be financially better off if they access their superannuation for deposits.

Their data shows that a 35-year-old who withdraws a 20% deposit (about $160,000) to buy an $800,000 apartment would be $1.2 million better off over 30 years in today’s dollars.

Left in superannuation that same amount of money would only increase by $319,000 during the same period.

The committee is considering the effect of withdrawing some superannuation savings for a home deposit.

The Superannuation Funds of Australia does not believe allowing buyers to access their funds for a deposit will help those struggling to save for one.

It says it will largely only help those who can already afford property and may drive up property prices.