Business
Super reforms a game-changer for retirement savings – Sydney Morning Herald
Better fund engagement could be worth hundreds of thousands of dollars in additional retirement savings to every member when they stop work.
The difference between a high-fee and low-fee fund over time can be immense.
Think about a person aged 30 now with $25,000 in super and who is earning $60,000 a year.
By educating more Australians about super, members will become more engaged and so make better choices
If their salary increases by 4 per cent per annum (good luck!) and their super contributions remain at 9.5 per cent of salary, they should have about $1.8 million in retirement at age 65 if their fund earns 8 per cent a year.
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