Testimonials


I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC


Super Facts and Tips

Present Status of the Australian Superannuation System

This economic success has significantly enhanced our quality of life. Average incomes have doubled in real terms considering that 1975, with this enhanced wealth, shared broadly across the neighborhood.

As a result, Australian households delight in access to a well-functioning health system, excellent schools, a strong social security system and options for recreation and leisure that our grandparents might just dream about.

All Australians share goals for financial security and a much more prosperous future - a better place for our children and the generations beyond.

But it is insufficient that we simply share this aspiration. We need to make choices today to build a strong and resilient economy and lay the foundation for future prosperity.

Superannuation

The superannuation system helps Australians improve their retirement incomes, and supplement or lower reliance on the Age Pension.

Employers are currently needed to make minimum payments comparable to 9.5 percent of a staff member's salary to a superannuation fund, to help the staff member save for retirement. This rate is scheduled to increase to 12 percent in between July 1, 2021, and June 30, 2026.

Overall Australian superannuation assets have enhanced highly considering that required superannuation was introduced in 1992. At the end of 2013-14, overall superannuation assets were $1.84 trillion, around 116 per cent of GDP. As the superannuation system matures and salaries grow, overall Australian superannuation assets are anticipated to continue to increase and make a growing contribution to the country's cost savings.

As more Australians get the required superannuation contributions for longer periods of their working lives, they are likely to retire with higher superannuation balances. This will have important ramifications for dependence on payments made through the Age Pension.

An aging population underlines the importance of thinking about the general adequacy of our retirement incomes system - which combines mandatory and voluntary superannuation, and the Age Pension as a safety net. The Government will consider several elements of the superannuation system as part of the review of the tax system. The Government is also considering improving the way in which the superannuation system transforms cost savings into retirement income streams.

You are learn more about superannuation at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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