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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.

*The above material, whilst correct at the time of publication may include references or statements which are no longer current.

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