The Daily Aus The changes coming to your super
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Jun 21, 2025 Exciting changes to superannuation are on the horizon! Starting July 1, the minimum contributions will increase, impacting your retirement savings. Discover how this shift affects young Australians. The podcast dives into the origins of superannuation, designed to support an aging population while reducing reliance on public pensions. It also discusses the historical rise in contribution rates and touches on potential tax changes for high super balances. Stay informed about what these changes mean for your financial future!
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Superannuation Basics
- Superannuation is compulsory retirement savings in Australia funded by employer contributions.
- It helps build savings invested over time to provide for financial needs after stopping work.
Super's Role In Aging Economies
- The super system addresses economic challenges of an aging population by reducing future reliance on government pensions.
- Increased longevity creates financial strain governments manage by encouraging retirement savings.
Check Salary Includes Super
- Check if your salary is quoted including or excluding super contributions to understand your true take-home pay.
- Knowing this helps you accurately assess your net income versus employer super payments.