Superannuation Guarantee lift 'a boost for future savers'

The federal government’s plan to lift the Superannuation Guarantee (SG) to 12 per cent will prove to be a major benefit for savers, new research has claimed.

According to the AMP Retirement Index, the SG increase will boost the average annual net retirement income for Australian workers by $1,795, taking it to $45,710.

The study also found that the greatest beneficiaries of the higher SG rate will be people who have not yet entered the workforce.

“Every Australian worker deserves a comfortable retirement and recent changes made by the federal government demonstrate its commitment to a robust and sustainable superannuation system for generations to come,” commented AMP financial services managing director Craig Meller.

The news may encourage more Aussies to compare term deposits in search of the best retirement nest eggs. A report by News Limited recently claimed that Australian investors may be returning to supposedly “boring” market opportunities like infrastructure stocks as a means of securing safe returns.

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