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The age pension was the first payment made by the Australian Government, dating back to 1909. [25] There is no automatic entitlement to an age pension in Australia, unlike in countries such as the UK or New Zealand. Taxpayer-funded pensions are means tested [26] (similar to the UK's Pension Credit), effectively making them another type of benefit.
An avoidable issue with Australia's superannuation system is employees failing to consolidate multiple accounts, thus being charged multiple account fees. In 2018, of Australia's 15 million superannuation fund members, 40% had multiple accounts, which collectively cost them $2.6 billion in additional fees per year. [80]
This page was last edited on 26 January 2025, at 23:56 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
The Australian Retirement Trust was founded on 28 February 2022 following the merger between Sunsuper and QSuper. [4] It was the largest superannuation fund merger in Australian history. [4] On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [5]
Australia said on Thursday that it would make pension contributions for workers who take paid parental leave, the latest effort by the centre-left Labor government to address gender imbalance in ...
In line with the triple lock, the State Pension will rise by 4.1 per cent – up £472 a year – matching wage growth in 2024. Both increases will take effect from April 2025. Energy Price Cap ...
AustralianSuper is an Australian superannuation fund headquartered in Melbourne, Victoria.It is an industry super fund, and so operates through a mutual fund structure.. With over A$ 340 billion of retirement savings under management and more than 3.4 million members, AustralianSuper is the largest superannuation fund in Australia and the sixteenth largest pension fund in the world.
New Year's Day: 1 January * Australia Day: 26 January * Labour Day: 1st Monday in March Good Friday: Friday before Easter Easter Monday: Day after Easter Anzac Day: 25 April * Western Australia Day: First Monday in June King's Birthday: Last Monday of September # Christmas: 25 December * Boxing Day: 26 December *