Retirement
How will the SG boost change your retirement?
Workers are set to benefit from a $20,000 boost to their retirement as a result of the upcoming super guarantee increase, new research has revealed.
How will the SG boost change your retirement?
Workers are set to benefit from a $20,000 boost to their retirement as a result of the upcoming super guarantee increase, new research has revealed.

The upcoming superannuation guarantee increase to 10 per cent, due to take effect on 1 July, is expected to generate $19,000 more in retirement for the average Australian worker, research by the Association of Superannuation Funds of Australia (ASFA) has revealed.
According to ASFA, the legislated rise in annual half per cent increments from 10 per cent this year through to 12 per cent on 1 July 2025, will put Aussies firmly on track to achieve “the dignified retirements they deserve”.
“For the average Australian worker, the July super increase represents an extra $19,000 in their super nest egg at retirement,” said ASFA deputy CEO and chief policy officer Glen McCrea.
“The long-term benefits of the system reaching 12 per cent are even greater. For the average Australian worker, the change will mean an extra $85,000 in super at retirement,” Mr McCrea noted.
Based on ASFA’s research, for an average 30-year-old worker living in NSW, the impact of the SG increases will yield an average retirement of $551,000. In Victoria, the sum would equal $523,000, and in Queensland, $515,000.

ASFA’s current comfortable retirement standard sits at $545,000 for a single person.
“Currently, only 25 per cent of Australians achieve a self-funded retirement,” Mr McCrea revealed.
“By 2050, that number is set to double as a result of the super system moving to 12 per cent. It’s a significant shift which will underpin Australia’s fiscal sustainability by diminishing the reliance on the age pension.”
Retirement impact across the country
State/Territory |
Impact of SG remaining at 9.5% |
Impact of SG 10% on 1 July |
Impact of SG 12% on 1 July 2025 |
NSW |
$463,000 |
$482,000 |
$551,000 |
Vic |
$440,000 |
$458,000 |
$523,000 |
Qld |
$434,000 |
$451,000 |
$515,000 |
SA |
$425,000 |
$443,000 |
$504,000 |
WA |
$472,000 |
$491,000 |
$562,000 |
Tas |
$410,000 |
$426,000 |
$485,000 |
Australia |
$449,000 |
$468,000 |
$534,000 |
About the author

About the author


Superannuation
Superannuation guarantee rate rises to 12 per cent as parental leave changes take effect
The superannuation guarantee rate has increased from 11.5 per cent to 12 per cent from Tuesday, with super contributions also being added to Commonwealth Parental Leave Pay for the first time. Read more

Superannuation
Rest's Sustainable Growth option achieves highest sustainability classification
Rest superannuation fund has achieved the highest sustainability classification for its Sustainable Growth investment option from the Responsible Investment Association Australasia. Read more

Superannuation
Aware Super slashes admin fees for retirees by up to 25 per cent
Aware Super has reduced administration fees for members with a retirement income account by up to 25 per cent and lowered the maximum annual fee. Read more

Superannuation
SuperAPI co-founder criticises Labor's superannuation tax as 'sneaky tax on young people'
The co-founder of SuperAPI has labelled Labor's proposed tax on superannuation balances above $3 million as a "sneaky tax on young people, tomorrow" disguised as a policy targeting wealthy retirees ...Read more

Superannuation
Election policies could reshape Australia's superannuation landscape, expert warns
Competing superannuation policies from Australia's major political parties could have significant implications for investors and retirees, according to a financial expert. Read more

Superannuation
Industry leaders weigh in on concessional super tax as Budget confirms $55bn investment
Changes to the taxation of superannuation earnings and contributions have drawn mixed responses from financial and payroll sector leaders, as the Federal Budget confirms over $55 billion in ...Read more

Superannuation
Call for indexation on super tax cap as $3m threshold draws criticism
A senior executive in the superannuation technology sector has criticised the Federal Government for failing to index the proposed $3 million superannuation tax cap, arguing the measure will unfairly ...Read more

Superannuation
Rest members back calls for fairer superannuation rules ahead of Federal Budget
Rest has called on the Federal Government to implement superannuation reforms aimed at improving fairness across the system, after member survey results showed strong support for a range of proposed ...Read more

Superannuation
Superannuation guarantee rate rises to 12 per cent as parental leave changes take effect
The superannuation guarantee rate has increased from 11.5 per cent to 12 per cent from Tuesday, with super contributions also being added to Commonwealth Parental Leave Pay for the first time. Read more

Superannuation
Rest's Sustainable Growth option achieves highest sustainability classification
Rest superannuation fund has achieved the highest sustainability classification for its Sustainable Growth investment option from the Responsible Investment Association Australasia. Read more

Superannuation
Aware Super slashes admin fees for retirees by up to 25 per cent
Aware Super has reduced administration fees for members with a retirement income account by up to 25 per cent and lowered the maximum annual fee. Read more

Superannuation
SuperAPI co-founder criticises Labor's superannuation tax as 'sneaky tax on young people'
The co-founder of SuperAPI has labelled Labor's proposed tax on superannuation balances above $3 million as a "sneaky tax on young people, tomorrow" disguised as a policy targeting wealthy retirees ...Read more

Superannuation
Election policies could reshape Australia's superannuation landscape, expert warns
Competing superannuation policies from Australia's major political parties could have significant implications for investors and retirees, according to a financial expert. Read more

Superannuation
Industry leaders weigh in on concessional super tax as Budget confirms $55bn investment
Changes to the taxation of superannuation earnings and contributions have drawn mixed responses from financial and payroll sector leaders, as the Federal Budget confirms over $55 billion in ...Read more

Superannuation
Call for indexation on super tax cap as $3m threshold draws criticism
A senior executive in the superannuation technology sector has criticised the Federal Government for failing to index the proposed $3 million superannuation tax cap, arguing the measure will unfairly ...Read more

Superannuation
Rest members back calls for fairer superannuation rules ahead of Federal Budget
Rest has called on the Federal Government to implement superannuation reforms aimed at improving fairness across the system, after member survey results showed strong support for a range of proposed ...Read more