More than 6.7 million Australians will benefit from a boost to their nest egg from July as the super rate increases to 10%, with young workers and low to middle-income earners the big winners.
From July 1 an extra $233 a year will flow into the super accounts of the average worker.
This super boost may be small, but it will make a big difference at retirement – with a 30-year-old on the median wage expected to have an extra $19,000 at retirement, a couple will have an extra $38,000.
In total Australians will get an extra $1.5 billion paid in super in the next 12 months.
*The above material, whilst correct at the time of publication may include references or statements which are no longer current.