News

According to the latest ASFA survey, two in three respondents believe increasing the Superannuation Guarantee (SG) to 12% by 2020 will have a positive impact on their retirement. Three in five respondents also said the Government should introduce the law on raising the Super Guarantee sooner rather than later.

Currently the Government is looking at implementing the 3% raise in small steps starting from 2013 to 2020, but for most Australians this isn't fast enough. 

Having enough money to retire is a major concern for Australians, respondents rated it at the top of their concerns, before paying for everyday expenses and paying the mortgage.

The main reasoning behind providing a three year lead time before any changes start, is due to the Government recognising that it could largely affect wage negotiations between employers and employees.

For more information regarding this change visit: http://www.futuretax.gov.au/pages/FairerSuperannuation.aspx