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Showing 1 - 10 of 182 results for "Super guarantee"

Total super assets hit $4tn milestone

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
... contributions increased by 11.4% over the year to $140.8 billion. "This growth was driven by the increases in the super guarantee rate to 11% from July 2023 and 11.5% from July 2024, and seasonally adjusted wages rising by 3.5% for the year," APRA said. ...

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
... employees reporting their super had not been paid," she said. "Our action against employers who aren't complying with super guarantee obligations helps to protect employee's superannuation and ensure a level playing field for all businesses." Currently ...

'Alarming' figure in retirement research

ELIZA BAVIN  |  FRIDAY, 4 OCT 2024
... three quarters of their super balance made up of compound returns at retirement, Gen Z will benefit from a 12% super guarantee rate for most of their working life, which will help supercharge their balances," Kerlin said. The survey found that one-in-two ...

'About bloody time': Industry responds to PPL super reform

JAMIE WILLIAMSON  |  THURSDAY, 7 MAR 2024
... threshold, currently $45,000 per annum," Blakey said. "And secondly, aligning the amount of the offset to the Super Guarantee, would help make a difference for the retirement savings of women and low-income earners across Australia." The Super Members ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... low-income superannuation tax offset (LISTO) so that workers earning up to $45,000 receive a full tax refund on their super guarantee (SG) contributions can boost the super of more than 1.2 million Australians, of which 60% are women. "Since tax concessions ...

ATO recoups $684m in unpaid super

ANDREW MCKEAN  |  WEDNESDAY, 15 NOV 2023
... million in unpaid superannuation entitlements to funds and individuals, while also raising over $1.3 billion in super guarantee charge liabilities through compliance actions in the 2022-23 financial year. During the year, the ATO completed around 14,000 ...

ASFA, Super Consumers Australia revise retirement standards

CHLOE WALKER  |  MONDAY, 28 AUG 2023
... the cost of poultry, dairy, vegetables and potatoes up significantly." ASFA said the scheduled increase in the Super Guarantee (SG) to 12% in 2025 to be "critical to help future generations of Australian retirees to achieve a dignified lifestyle in their ...

Aussies happy with compulsory super: Data

CASSANDRA BALDINI  |  THURSDAY, 13 APR 2023
... superannuation system." The survey follows ISA analysis that suggested the average gig worker, who is not entitled to Super Guarantee contributions, could have up to $29,000 more at retirement. ASFA said 98% of respondents also felt the current compulsory ...

CareSuper changes TPD definition, extends cover

ANDREW MCKEAN  |  TUESDAY, 14 MAR 2023
... into their CareSuper account as a super contribution, up from 10%, to align with future increases to mandatory Super Guarantee contributions. CareSuper is also making other changes to its insurance offerings, such as using age-based rates rather than ...

Australia survives global pension rout

ANDREW MCKEAN  |  THURSDAY, 16 FEB 2023
... drop in global pension assets since the GFC, Australian super funds held steady with lower bond allocations and Super Guarantee flows. Global pension assets had their largest annual decline since the GFC, dropping 16.7% to $47.9 trillion, due to market ...
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