News Muncher - searching for cent - category superannuation

6 months ago

Tax office urges more than 4 million Australians to track down $16b in lost, unclaimed superannuation

ABC

In short: The tax office says there is $16 billion in lost and unclaimed superannuation in Australia, and 23 per cent of working Australians have more than one account. Super stapling Mr James said the next generation of workers will be less susceptible to having multiple super accounts since the federal government introduced super stapling in 2021. A spokesperson for …

Financial James Lost Queensland Unclaimed Super Super Funds

1 year ago

Radical solution to help millions of struggling Aussies pay off their mortgage after aggressive interest rate rises

Daily Mail

A Liberal senator is calling for Australians to be able to put their superannuation into an offset account so they can handle rising mortgage rates. The Reserve Bank's 13 interest rates rises in 18 months have caused monthly mortgage repayments to surge by 69 per cent. With variable mortgage rates now approaching seven per cent, Liberal senator Andrew Bragg has …

Bank Mortgage Cent Interest Rate Bragg Liberal Senator

1 year, 9 months ago

Treasurer Jim Chalmers caps super tax breaks for accounts with more than $3 million

ABC

Treasurer Jim Chalmers will double the tax rates paid by Australians with superannuation account balances worth more than $3 million, in a move he says is about budget sustainability and equity. Key points: The super tax break changes will not take effect until after the next election They will see the tax on earnings increase from 15 to 30 per …

Labor Tax Budget Million Cent Tax Breaks Accounts

1 year, 11 months ago

The superannuation warning that every Australia needs to read

Daily Mail

Australian superannuation balances are set to suffer their worst year since the Global Financial Crisis as higher interest rates dent share market returns. Australian superannuation balances are set to suffer their worst year since the Global Financial Crisis as higher interest rates dent share market returns Research group SuperRatings estimates balanced options in 2022 will suffer a 2.7 per cent …

Australia 2022 Australian Returns Superannuation Gfc Superratings

3 years, 3 months ago

Australians urged to switch where they invest for retirement as best and worst superannuation funds revealed

ABC

More than 1 million Australians who are members of underperforming superannuation funds will soon receive letters urging them to switch where they invest their retirement savings. APRA executive board member Margaret Cole said 84 per cent of products passed the performance test, "however APRA remains concerned about those members in products that failed". Super Consumers Australia director Xavier O'Halloran says …

Fees Cent Funds Invest Members Return Switch

3 years, 6 months ago

Telstra, AGL, ANZ, Macquarie Group among employers making some workers pay for superannuation rise

ABC

Large publicly listed companies including Telstra, AGL, ANZ and Macquarie Group are among employers that are asking some of their staff to use money out of their own pockets in order to fund the upcoming 0.5 per cent increase in superannuation payments. Key points: The superannuation guarantee is the proportion of wages employers must contribute to workers' retirement savings It's …

Employees Workers Base Increase Staff Supplied Rise

3 years, 8 months ago

Paul Keating says Australians owed superannuation increase after being 'robbed' of real wage adjustments

ABC

Former prime minister Paul Keating has reignited claims a rise in the superannuation guarantee is the only way Australians are going to be able to adequately afford retirement without overburdening the pension system. Key points: The super guarantee is legislated to increase to 12pc by 2025, but the government says a decision will be made closer to the deadline Paul …

Retirement Cent System Super Keating Mr Callaghan Callaghan

4 years, 3 months ago

Australia's top economists oppose the next increases in compulsory super: new poll

ABC

The five consecutive hikes in compulsory super contributions due to start next July should be deferred or abandoned in the view of the overwhelming majority of the leading Australian economists surveyed by the Economic Society of Australia and The Conversation. But ahead of the most recent increase in compulsory super, from 9 per cent of salaries to 9.5 per cent …

Wages Super Wage Economists Contributions Wage Growth Superannuation

4 years, 4 months ago

Contributions to your super are set to get a boost next year — but coronavirus could send the plan off the rails

ABC

For nearly 30 years, Australian governments have been working to get the percentage of your wage that employers must contribute to your retirement savings to 12 per cent. Here's what that looks like: Period General super guarantee July 1, 2002 - June 30, 2013 9 July 1, 2013 - June 30, 2014 9.25 July 1, 2014 - June 30, 2021 …

Labor Retirement Income Cent Increases Morrison Super

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