Retirement
Society backs higher superannuation guarantee
Australians appear to have overwhelmingly rejected a push to freeze the superannuation guarantee at 9.5 per cent, new polling has shown.
Society backs higher superannuation guarantee
Australians appear to have overwhelmingly rejected a push to freeze the superannuation guarantee at 9.5 per cent, new polling has shown.
In research conducted by UMR, only 19 per cent of Australians indicated that they expect to be able to live comfortably off their super in retirement, with a majority expecting to work longer to have enough money to retire, or be forced to rely on the pension if super contributions are not increased.
It indicated overwhelming support for an increase to the super guarantee, which currently sits at 9.5 per cent, with nearly nine out of 10 Australians (87 per cent) in favour of an increase.
Industry Super Australia chief executive Bernie Dean said the research suggests that Australians want an increase in super in order to fund their futures, with Australians “rightly concerned about their retirement and whether they will be able to make ends meet”.
“Freezing the super guarantee will force Australians to work longer and increase the burden on the pension,” Mr Dean said.
For the individuals surveyed, the increased reliance on the pension as a result of freezing super was a big concern, with two out of three respondents worried that everyday Australians would end up footing the bill as more people rely on the pension.
Employees also backed a higher compulsory superannuation payment due to current levels of low wage growth leading to lower growth in overall remuneration packages, according to the study.
The research highlighted that 43 per cent of Australians expect to retire with less than $200,000 in their super account.
According to Industry Super Australia’s analysis, if the super guarantee remains frozen at 9.5 per cent, a 30-year-old male earning $85,000 a year would stand to see $147,000 less super by the time they reach retirement, the equivalent of nearly $5,500 less per year in retirement.
According to Mr Dean, Australia’s superannuation system “was established to provide a safety net for working people in retirement”.
“It must be protected,” he said.
RELATED ARTICLES
About the author
About the author
Superannuation
Employment Hero raises concerns over superannuation bill's impact on small businesses
Employment Hero has raised significant concerns regarding the implementation of the proposed Supporting Choice in Superannuation and Other Measures Bill, which was recently recommended for passage by ...Read more
Superannuation
Rest calls for reform of superannuation rules for young workers
In a bold move to enhance the financial future of young Australians, superannuation fund Rest is advocating for the abolition of what it deems an "unfair and outdated" rule affecting under-18 workersRead more
Superannuation
Australians face readiness crisis as payday super reform looms
As the implementation date for one of Australia’s most significant superannuation reforms draws near, new research reveals a startling lack of awareness and preparedness among both businesses and ...Read more
Superannuation
Rest posts healthy returns following a positive end to 2025
Rest, one of Australia's largest profit-to-member superannuation funds, has reported impressive returns in its flagship MySuper Growth investment option for the year 2025. The fund is optimistic about ...Read more
Superannuation
Rest marks milestone with first private equity co-investment exit
In a significant development for Rest, one of Australia’s largest profit-to-member superannuation funds, the organisation has announced the successful completion of its first private equity ...Read more
Superannuation
Expanding super for under-18s could help close the gender super gap, says Rest
In a push to address the gender disparity in superannuation savings, Rest, one of Australia's largest profit-to-member superannuation funds, has called for a significant policy change that would allow ...Read more
Superannuation
Employment Hero pioneers real-time super payments with HeroClear integration
In a significant leap forward for Australia's payroll and superannuation systems, Employment Hero, in collaboration with Zepto and OZEDI, has successfully processed the country's first ...Read more
Superannuation
Rest launches Rest Pay to streamline superannuation payments and boost member outcomes
In a significant move aimed at enhancing compliance with upcoming superannuation regulations, Rest, one of Australia’s largest profit-to-member superannuation funds, has unveiled an innovative ...Read more
Superannuation
Employment Hero raises concerns over superannuation bill's impact on small businesses
Employment Hero has raised significant concerns regarding the implementation of the proposed Supporting Choice in Superannuation and Other Measures Bill, which was recently recommended for passage by ...Read more
Superannuation
Rest calls for reform of superannuation rules for young workers
In a bold move to enhance the financial future of young Australians, superannuation fund Rest is advocating for the abolition of what it deems an "unfair and outdated" rule affecting under-18 workersRead more
Superannuation
Australians face readiness crisis as payday super reform looms
As the implementation date for one of Australia’s most significant superannuation reforms draws near, new research reveals a startling lack of awareness and preparedness among both businesses and ...Read more
Superannuation
Rest posts healthy returns following a positive end to 2025
Rest, one of Australia's largest profit-to-member superannuation funds, has reported impressive returns in its flagship MySuper Growth investment option for the year 2025. The fund is optimistic about ...Read more
Superannuation
Rest marks milestone with first private equity co-investment exit
In a significant development for Rest, one of Australia’s largest profit-to-member superannuation funds, the organisation has announced the successful completion of its first private equity ...Read more
Superannuation
Expanding super for under-18s could help close the gender super gap, says Rest
In a push to address the gender disparity in superannuation savings, Rest, one of Australia's largest profit-to-member superannuation funds, has called for a significant policy change that would allow ...Read more
Superannuation
Employment Hero pioneers real-time super payments with HeroClear integration
In a significant leap forward for Australia's payroll and superannuation systems, Employment Hero, in collaboration with Zepto and OZEDI, has successfully processed the country's first ...Read more
Superannuation
Rest launches Rest Pay to streamline superannuation payments and boost member outcomes
In a significant move aimed at enhancing compliance with upcoming superannuation regulations, Rest, one of Australia’s largest profit-to-member superannuation funds, has unveiled an innovative ...Read more
