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Showing 21 - 30 of 422 results for "Superannuation Guarantee"

Payday super to boost retirement savings for millions

ANDREW MCKEAN  |  TUESDAY, 2 MAY 2023
... move to pay super with wages. ASFA deputy chief executive Glen McRea said: "Requiring employers to pay Superannuation Guarantee (SG) at the same time as wages will make it easier for employees to monitor the SG compliance of their employer and for the ...

Superannuation market defies capital market chaos

ANDREW MCKEAN  |  MONDAY, 24 APR 2023
... average of 17.4% of their total wages and salaries into superannuation, 70% more than the 10% compulsory Superannuation Guarantee (SG) contribution rate. Australians' 17.4% contribution ratio has risen from 15.8% in 2018 but remains lower than the ...

Cut spending and raise taxes, super preservation age: Grattan

JAMIE WILLIAMSON  |  WEDNESDAY, 12 APR 2023
... people who typically have a lower life expectancy, the report notes. It has also recommended freezing the Superannuation Guarantee rate to save $1.2 billion a year. Grattan said stopping the planned increases would also stop people from over saving for ...

ISA renews calls for gig worker super

CHLOE WALKER  |  TUESDAY, 11 APR 2023
... students, otherwise unemployed and in many cases, living with a disability. However, they are not entitled to Superannuation Guarantee contributions under the Fair Work Act 2009. The typical gig worker, working in transport or food delivery and performing ...

Retirement officer roles critical in super funds

CHLOE WALKER  |  THURSDAY, 23 MAR 2023
... Bose said, the RIC has been a catalyst for that change. "In the past, the focus has really been on the superannuation guarantee and getting those balances there and built up at the point of retirement," she said. "But now we're seeing that shift ...

Industry super defies turbulent markets

KARREN VERGARA  |  WEDNESDAY, 1 MAR 2023
... 11% year on year. Employer contributions increased by 11.8% to $114.9 billion, likely supported by the Superannuation Guarantee increase to 10.5% as of 1 July 2022, together with the declining unemployment rate during the year, which sits at historically ...

Australia leads the way in pension system sustainability: ASFA

ANDREW MCKEAN  |  THURSDAY, 23 FEB 2023
... Zealand, the UK, and the US. Conversely, Australia's superannuation system is maturing, with the superannuation guarantee (SG) contribution rate scheduled to reach 12% in 2025. "Australia's unique defined contribution (DC) super system is arguably ...

Mercer proposes superannuation tax overhaul

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
... towards high-income earners. Proposed changes for improving fairness in the super tax system include paying Superannuation Guarantee (SG) contributions on government-paid parental leave, extending the Low Income Superannuation Tax Offset (LISTO), reducing ...

Super funds must unlock diversification opportunities: HSBC

ANDREW MCKEAN  |  TUESDAY, 31 JAN 2023
... APRA data shows that funds hold 45% of investments offshore, up from 30% a decade ago. As the mandatory Superannuation Guarantee rate is set to increase to 12% by 2025, Wheeler anticipates that this trend toward internationalisation will accelerate. ...

Strengths and weaknesses in DC systems: Comparison

ANDREW MCKEAN  |  FRIDAY, 13 JAN 2023
... don't seem to like mandates, which has resulted in a lingering coverage deficit." Australia's superannuation guarantee has resulted in the standardisation of data and payments, increased efficiency in relations between employers and record-keepers ...