Skip to Main Content
 
Only 12% super will save the retirement of millions image
Media Releases

Only 12% super will save the retirement of millions

Published: 29 Apr 2021

Millions of low and middle-income Australian families will not have enough to retire on if the government cuts the super rate, new Industry Super Australia analysis reveals.

The super guarantee has been legislated to rise from 9.5% to 12% by 2025 – with the first 0.5% increase in July, yet the government has indicated it is considering ditching its election promise to lift the rate.  

New analysis, which adopts a more sophisticated microsimulation approach to modelling adequacy than used by the Retirement Income Review, shows if the super rate is frozen at 9.5% about half of all middle-income Australian families will not reach the benchmark of a retirement income that is 65% of what they earnt while working.

Got a topic you'd like to read about?

Thank you for your topic suggestion.

The message has been sent succesfully, check back soon to find if we wrote about the topic you suggested.

An error has occurred

Due to a technical fault we are unable to to submit your form at the moment. Please try again later.

Additional details:

To learn more about one of the Industry SuperFunds below click on their logo.

I'M READY TO CHOOSE A FUND