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Significant updates were made to the superannuation system in Australia in 2023 and 2024. [16] The Superannuation Guarantee (SG) rate, which had been gradually increasing over the years, reached 10.5% in 2022 and is set to continue rising by 0.5% each year until it hits 12% by 2025. [16]
Hostplus is an Australian industry superannuation fund. [1] The fourth largest superannuation fund in Australia as of 2023, [2] it is 'giant' with around 1.7 million members (2023) and over $100b funds under management.
On 21 February 2023, the Commonwealth Bank Group Super announced it had entered into a memorandum of understanding to pursue a merger with the Australian Retirement Trust. [6] In July 2024, Qantas announced it would merge its superannuation fund with Australian Retirement Trust.
State Super is a superannuation fund in Australia that was established in New South Wales in 1919. It serves current and former government employees and public sector workers. As of June 2023, it manages close to $38 billion AUD in assets and has around 86,840 members.
In Australia the retirement age was increased to 67 years in July 2023. [20] Austria: 65 60.5 2024 Women: gradually rising by 6 months per year from 2024 onwards from 60 years to 65 years by 2033. [12] [19] [21] Azerbaijan: 65 63.5 2024 Men: 65 from 2021 onwards. Women: gradually rising by 6 months per year from 2017 onwards from 60 to 65 years ...
The Social Security Fairness Act, which would increase benefits for 2.8 million retirees, has bipartisan support but time running out.
According to December 2023 data from the Social Security Administration, the average retiree collects around $2,038 per month in benefits at age 70, while the average benefit at age 62 is just ...
On 1 July 2021, the pension age became 66 years and 6 months, and from 1 July 2023, the pension age will increase to 67, the proposed cap. [ 28 ] a residency requirement requires an applicant to have been a resident in Australia for the last 10 years, with no break in residency for 5 of those years, and be in Australia on the day the ...
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