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The super increase will give
you more financial security
The increase to 12% might seem small, but it will make a huge difference to your super balance over time.
The 12% SG will give a 30-year-old earning $85,000 a year around $150,000 more super when they retire.
That’s around $100 more each week to take their grandkids out, keep their car on the road, put towards their rent or go to the footy.
The super increase will provide
the most security for low
and middle income earners
Did you know that 1 in 2 Australians earn under $48,360 a year? Increasing the SG will make the most difference to them.
High income earners can save outside super and, like politicians, many already get more than the minimum amount of super anyway.
But the cost of living means most Australians can’t afford to save outside super. They need the SG to be high enough to give them financial security in retirement.
The super increase means more
to invest in Australian business
While super is there to give Australians security in retirement, it has a second huge benefit - it builds our economy.
Our super is invested in Australian businesses, shopping centres, roads, schools, ports and hospitals.
Super provides long-term, stable investments that create jobs.
The super increase will make more money available to keep building Australia.