Retirement
Major parties back superannuation guarantee rise to 12 per cent
A renewed commitment from the Morrison government to back a 12 per cent lift to the superannuation guarantee as presently legislated, has been warmly welcomed by the superannuation sector as a “bipartisan commitment” to Australians counting on “super certainty” for their retirement funds.
Major parties back superannuation guarantee rise to 12 per cent
A renewed commitment from the Morrison government to back a 12 per cent lift to the superannuation guarantee as presently legislated, has been warmly welcomed by the superannuation sector as a “bipartisan commitment” to Australians counting on “super certainty” for their retirement funds.

The pledge comes as the government faces an imminent federal election on 21 May, with Prime Minister Scott Morrison reaffirming the Coalition’s position in supporting a rise in the superannuation guarantee if re-elected.
One of the superannuation sector’s biggest peak bodies, Industry Super Australia was elated by the Prime Minister’s announcement, commenting that it establishes a “strong bipartisan pact” that will “deliver dignity in retirement for millions”.
As the rate increase is enshrined in legislation, the government will be obliged to facilitate rises of “affordable” 0.5 per cent increments each year until it reaches 12 per cent by 2025.
Industry Super Australia feels the announcement reinforces a Coalition commitment made in December 2021, to increase the rate without delay and without making parts of the increase optional.

The Labor Party has also backed the superannuation guarantee rise, with an affirmed commitment from Shadow Assistant Treasurer and Shadow Minister for Financial Services, Stephen Jones.
According to Industry Super Australia, Australians “strongly support” the increases, with a recent consumer survey showing two-thirds of Australians “want politicians to stop tinkering with the super rate”.
“A 30-year-old could stand to lose $78,000 at retirement if the legislated increase was scrapped,” a statement from Industry Super Australia said.
Industry Super Australia also called on the next government to commit to closing the gender super gap and to fix unpaid super by making super payable on payday, “to ensure workers get the full benefit of the superannuation guarantee increase”.
Industry Super Australia chief executive Bernie Dean welcomed the Prime Minister’s “ironclad commitment” that a re-elected Coalition government would not alter the legislated increases in the Super Guarantee in any way.
“The commitment from both major parties to leave the super rate alone is a no-brainer given how much the community supports it going up,” Mr Dean said.
“Our federal politicians now need to make sure every worker gets the full benefit of the locked-in rise in the super guarantee by requiring all employers to pay it with wages. Only that will fix the scandal of unpaid super that costs about one in every four workers billions of dollars each year.”

Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more

Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more

Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more

Superannuation
Super performance test faces a fork balancing member value productive investment and regulatory trust
APRA’s latest superannuation performance test results have reignited a high‑stakes debate: does the test optimise member value or unintentionally curb long‑term investment in housing, infrastructure ...Read more

Superannuation
Aware Super unveils innovative digital tool to boost retirees' financial confidence
Aware Super has unveiled a groundbreaking digital advice tool, Retirement Manager, designed to empower retirees by addressing their most pressing financial concerns. Developed in collaboration with ...Read more

Superannuation
APRA's super shake-up: Balancing accountability and innovation in the next round
Australia’s performance test has forced long-overdue transparency in super and accelerated consolidation. But as the regime broadens, its blunt edges are colliding with investment complexity, ESG ...Read more

Superannuation
APRA’s performance test is doing its job — but now it risks doing the wrong job well
Australia’s superannuation performance test has flushed out chronic underperformance and catalysed consolidation. But its latest results have reignited a bigger question: can a single, ...Read more

Superannuation
Rest invests in US-based REIT amid changes in debt financing markets
In a strategic move that underscores the evolving landscape of commercial finance, Rest, one of Australia's largest profit-to-member superannuation funds, has announced a significant investment into ...Read more

Superannuation
Payday Super bill introduces new challenges for SMBs, reveals Employment Hero CEO
The introduction of the Payday Super bill to the Australian Parliament has sparked a significant response from the business community, particularly among small and medium-sized businesses (SMBs)Read more

Superannuation
Rest urges Parliament to expedite payday super legislation
In a significant move towards enhancing retirement outcomes for Australian workers, Rest, one of the country's largest profit-to-member superannuation funds, has expressed strong support for the ...Read more

Superannuation
Recalibrated super performance test aims to enhance accountability and investment opportunities
In a move that signals a shift rather than a cessation, Australia's government has announced a targeted review of the superannuation performance test. This recalibration, prompted by the latest ...Read more

Superannuation
Super performance test faces a fork balancing member value productive investment and regulatory trust
APRA’s latest superannuation performance test results have reignited a high‑stakes debate: does the test optimise member value or unintentionally curb long‑term investment in housing, infrastructure ...Read more

Superannuation
Aware Super unveils innovative digital tool to boost retirees' financial confidence
Aware Super has unveiled a groundbreaking digital advice tool, Retirement Manager, designed to empower retirees by addressing their most pressing financial concerns. Developed in collaboration with ...Read more

Superannuation
APRA's super shake-up: Balancing accountability and innovation in the next round
Australia’s performance test has forced long-overdue transparency in super and accelerated consolidation. But as the regime broadens, its blunt edges are colliding with investment complexity, ESG ...Read more

Superannuation
APRA’s performance test is doing its job — but now it risks doing the wrong job well
Australia’s superannuation performance test has flushed out chronic underperformance and catalysed consolidation. But its latest results have reignited a bigger question: can a single, ...Read more

Superannuation
Rest invests in US-based REIT amid changes in debt financing markets
In a strategic move that underscores the evolving landscape of commercial finance, Rest, one of Australia's largest profit-to-member superannuation funds, has announced a significant investment into ...Read more