Millions of Aussies to be thousands of dollars better off from next month
Share this @internewscast.com

Almost 10 million Australians will experience an automatic increase in their superannuation starting July 1, resulting in thousands of additional dollars for retirement, as reported by the Super Members Council.

According to the leading body in the superannuation sector, the superannuation guarantee rate is set to increase from 11.5 percent to 12 percent on that date, offering an additional $317 for the average Australian worker during the 2025-2026 financial year.

Young Australians and low-income earners will be the biggest winners.

Millions of Aussies will get a super boost from next month. (Getty Images/iStockphoto)

The SMC said the increase could see a “typical” 30-year-old retire with an extra $22,000 in super.

And together with the full increase from nine per cent to 12 per cent in the past decade, it could add up to $132,000 in extra super by retirement.

Over fifty percent of individuals benefiting from this increase are below the age of 40, with those in their 30s receiving the largest enhancement to their retirement savings compared to any other age group.

Almost a third of the people getting the increase earn less than $50,000 per year and about 70 per cent of those getting the increase earn less than $100,000 a year.

The average West Australian will get an extra $344 this year, the highest average super boost of the States.

The lowest average gain will be seen in Tasmania, at $284.

Want a pay rise? These jobs experienced the fastest salary growth this year

Super Members Council CEO Misha Schubert said the super rate increases were key to delivering a good life in retirement.

“This boost to retirement savings will help fund the things that matter most – more help with paying the bills, spending time and making memories with the family, trips away and financial security,” she said.

“When you know that a 30-year-old today will be more than $130,000 better off in retirement, it underlines why the safeguards that protect super for retirement are so important for all Australians.”

Share this @internewscast.com
You May Also Like

Treasurer Jim Chalmers Expresses Serious Concern Over Trump’s Warnings on Pharmaceutical and Copper Tariffs

Key Points Donald Trump has warned countries can expect 50 per cent…
The bodies of two men, believed to have died at different times, have been found inside a home in inner Sydney. 

Police Provide Update on Discovery of Decomposing Bodies in Urban Residence

The deaths of two men whose decomposing bodies were discovered in an…
orcas

Orcas Spotted Presenting ‘Gifts’ to Humans on Camera

When researcher Jared Towers set up his cameras underwater to observe a…

Israeli Official Suggests Gaza Ceasefire Could Happen in a Week or Two

Israel and Hamas may be able to reach a Gaza ceasefire and…

The “Saltwater Cowboys” Bringing New Life to Australia’s Historic Sea Cucumber Industry

Three brittle brown cylinders rest in Michael Wear’s palm, each the length…
Deidre Hill and her mother Valerie Smith lived in the same Bondi unit for 40 years, but are now homeless after being evicted last month.

Mother and daughter forced to leave Bondi home after four decades

Forty years ago, Deidre Hill and her mother Valerie Smith moved into…
Family forced to flee from destructive house fire

Family Escapes Devastating House Fire

An Adelaide family has managed to escape as a fire that caused…

Understanding the Political Tension: Anthony Albanese’s Role Between the US and China

As Prime Minister Anthony Albanese prepares to meet with his Chinese counterpart…

“Dropped Charge Against Protester Hannah Thomas Sparks Concerns Over Police Fairness”

Civil liberties groups have criticised NSW Police’s attempt to invoke rarely used…
Lorde (pictured) appears to be gearing up for a long-awaited return to Australia and New Zealand - and fans are losing it

Lorde Teases Australasian Tour Dates for Her Ultrasound World Tour, Fans Speculate

Lorde appears to be gearing up for a long-awaited return to Australia…
t's an Amazon nightmare. Imagine hundreds of oversized packages appear on your doorstep -- and you have no clue why. You never ordered them.

“Hundreds of Misdelivered Packages Turn Woman’s Life into Chaos”

It’s an Amazon nightmare. Imagine hundreds of oversized packages appearing on your…
Snow resorts in NSW have been hit with a massive snow dump as ski enthusiasts gear up to hit the slopes during the school holidays. Falls Creek

Huge Overnight Snowfall Transforms NSW Ski Resorts

Snow resorts in NSW have been hit with a massive snow dump…