The Australian Taxation Office (ATO) has given back $932 million in unpaid super to 797,000 workers. This big move shows the ATO’s hard work to make sure employers pay their super on time. It’s key for workers’ retirement plans. Deputy commissioner Emma Rosenzweig said over 92% of super was paid without the ATO needing to … Read more
Australia’s workers are getting a big cash boost. This is thanks to their superannuation funds doing better than expected in 2023. Even with economic ups and downs, the system set up by a past Labor government is paying off. It’s giving extra money to over 4.6 million Aussies who can’t save enough for retirement. The … Read more
Australia is facing a big change as its population ages quickly. In the next 40 years, more people will be over 65, and even more over 85. Treasurer Jim Chalmers has made big changes to superannuation to help retirees. This change is huge, with over 2.5 million Australians retiring in the next 10 years. Superannuation … Read more
Most teenagers don’t work enough hours to get superannuation. This means they miss out on nearly $2,200 by 18. By retirement, this could be $10,000. A new study by the Super Members Council shows a big problem. About 505,000 under-18s didn’t get super in 2024-2025. They lost an average of $730 each, adding up to … Read more
Australia’s $4.1 trillion superannuation system is getting a big update. The Actuaries Institute suggests three big changes. These aim to make superannuation fairer, more sustainable, and simpler. The goal is to help Australians use their retirement funds for income. This matches the idea of superannuation to support retirement income, alongside the Age Pension. Major Highlights … Read more
Did you know the Australian Taxation Office (ATO) offers two payments? These can increase the super balances of low-income and middle-income Aussies by up to $1000 a year. The payments are called the low-income super tax offset (LISTO) and the super co-contribution scheme. They aim to help Australians save more for retirement. mAJOR hIGHLIGHTS the … Read more
As an Australian, I’ve been watching the retirement scene closely. The Albanese government’s recent news has me feeling hopeful. After years of confusing super rules, we’re seeing real changes to help everyday Aussies in retirement. The super industry is now focusing on making retirement easier. They’re working on three big areas for the next 10 … Read more