Business
Super changes: How the average Australian could be $1630 worse off – NEWS.com.au
Super changes: How the average Australian could be $1630 worse off
Treasurer Josh Frydenberg has opened the door to ripping $1630 a year from the average workers nest egg by delaying a guaranteed increase to superannuation. As exclusively revealed by news.com.au in July, a retirement incomes report has warned of a trade off between an increase in the super guarantee and lower wage growth.
The scheduled increase in superannuation, due to increase from 9.5% to 12% by 2025 was taken to the last election but could now be delayed as a result of the COVID-19 pandemic.
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