Unpaid super costs Australians around $6 billion. So how much is ‘payday super’ likely to boost your balance? And where can employees or employers get more help?
Articles on superannuation guarantee
Displaying all articles
Reducing the rate of compulsory super is also unlikely to help with housing affordability.
Financial advice will always be more useful to those who can use super to minimise tax, but even households with small balances should seek guidance.
As a person now closing in on retirement, I admit I had no idea in my 20s how much my future, and the futures of those close to me, would depend on my superannuation savings.
Our super funds say they want to invest more in the net zero transition but that regulation blocks them. It’s time to put them to the test, and turn their piles of money toward a greener future.
Putting more of each pay packet into super would widen the gap between high earners and low earners; between men and women.
The increase will come at the expense of wages, and in the view of two inquiries - a decade apart - is something we don’t need.
Until now most people have eventually owned a home. But two trends – falling ownership and a growing aged population – will put the budgets of retirees and government under real pressure.
Everyone is better off under the superannuation guarantee levy, but low and high income earners see a greater benefit than those in the middle.
The Australian superannuation system was originally meant to be government-run, and so many necessary protections weren’t included.
Top contributors
-
John Curtin Distinguished Professor, Curtin University
-
Emeritus Professor of Housing and Housing Studies, RMIT University
-
Lecturer/Co-Ordinator, Queensland University of Technology
-
Ronald Henderson Senior Research Fellow, The University of Melbourne
-
Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
-
Professor and Head of the Department of Banking and Finance, Monash University
-
Visiting Fellow, Crawford School of Public Policy, Australian National University
-
Head of Sustainable Finance Hub, The University of Melbourne
-
Professorial fellow, Monash University
-
Lecturer, Monash University
-
Associate Professor of Economics, University of Sydney
-
Professor of Accounting and Deputy Head of School - Business, University of Southern Queensland