{"id":191629,"date":"2025-06-17T12:14:16","date_gmt":"2025-06-17T12:14:16","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/191629\/"},"modified":"2025-06-17T12:14:16","modified_gmt":"2025-06-17T12:14:16","slug":"millions-of-australians-to-get-a-major-cash-boost-from-next-month","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/191629\/","title":{"rendered":"Millions of Australians to get a major cash boost from next month"},"content":{"rendered":"

By MATT JONES FOR DAILY MAIL AUSTRALIA <\/p>\n

Published: 03:00 EDT, 17 June 2025 | Updated: 03:15 EDT, 17 June 2025 <\/p>\n

Millions of Aussies will receive a boost to their superannuation which could mean the average 30-year-old worker will retire with an extra $22,000 in the bank.<\/p>\n

Nearly 10 million Australians will get the automatic boost to their super from July 1, according to the Super Members Council.<\/p>\n

The superannuation guarantee rate will rise from 11.5 per cent to 12 per cent, which\u00a0the SMC said equated to an extra $317 in super each year for the average person.<\/p>\n

The rise, along with the increase from nine per cent to 12 per cent in the past decade, could mean an extra $132,000 in super for young Australians by the time they retire.<\/p>\n

The majority of Aussies receiving the super increase are under 40 and nearly a third are earning less than $50,000 per year, while 70 per cent are making less than $100,000.<\/p>\n

SMC CEO Misha Schubert told Daily Mail Australia the increase is a ‘game changer’ for average Aussie workers.<\/p>\n

‘It will help people have that dignified standard of living in retirement that all of us would hope for so let’s celebrate that milestone now,’ she said.<\/p>\n

‘Australia has a remarkable system that is the envy of the world in how we help our workforce save for retirement.’<\/p>\n

\"\" <\/p>\n

Millions of Aussies will receive a boost to their superannuation which could mean the average 30-year-old worker will retire with an extra $22,000 in the bank (stock image)\u00a0<\/p>\n

Ms Schubert said there currently wasn’t a ‘discussion’ to increase the super guarantee beyond 12 per cent.<\/p>\n

‘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,’ she said.<\/p>\n

In 1991, Australia passed federal legislation that created the universal compulsory super system.<\/p>\n

The superannuation guarantee act started by having employers pay three per cent into employees’ super accounts.<\/p>\n

Share or comment on this article:
\n Millions of Australians to get a major cash boost from next month<\/p>\n","protected":false},"excerpt":{"rendered":"By MATT JONES FOR DAILY MAIL AUSTRALIA Published: 03:00 EDT, 17 June 2025 | Updated: 03:15 EDT, 17…\n","protected":false},"author":2,"featured_media":191630,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[51,92,474,12,2499,16,15],"class_list":{"0":"post-191629","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-dailymail","10":"tag-finance","11":"tag-news","12":"tag-personal-finance","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114698653859893392","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/191629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=191629"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/191629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/191630"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=191629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=191629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=191629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}