Aussie workers to benefit from superannuation ruling

Tuesday 20 March 2012

Article by Mozo

With uncertainty still surrounding the global economy, Aussies have been finding it increasingly difficult to put money away in their savings accounts.

The high cost of living has meant that many people simply do not have any surplus cash to put aside for a rainy day.

However, a new government ruling looks likely to benefit workers in all different sectors, as employers will be forced to contribute more to superannuation accounts.

The Senate has approved a rise from nine per cent to 12 per cent as part of a mining tax package and the move could see Aussies receive up to 25 per cent more money in their savings fund over the course of their career.

Speaking to the Herald Sun, workplace relations minister Bill Shorten said an average 30-year-old worker would receive in the region of $110,000 when they retire.

He added that it is important that the profits from the ongoing mining boom are shared throughout the country.

"The golden goal of lifetime income security will become significantly easier to achieve, thanks to the mining tax," he was reported as saying.

Aussie workers to benefit from superannuation ruling

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