Tag: retirement savings planner
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Payday Super Laws to Bolster Retirement Savings for Australian Workers
Payday super laws are set to revolutionize retirement savings as they mandate employers to pay superannuation along with wages. The move comes in response to the alarming prevalence of unpaid super, which deprives a quarter of workers of $5.1 billion annually. On average, each affected worker loses $1,800 in super per year, amounting to a…
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Market Turmoil Raises Concerns for Australian Superannuation Stability
As markets plummet, the reverberations are felt across Australia’s superannuation landscape. With retirement savings intertwined with market performance, the recent downturn has left many Australians concerned about the state of their superannuation funds. Retirement Planner Notebook (6 x 9 Inches): Floral Design Blank Lined Journal for Financial Planning, Savings Strategies &… | $14.93 Superannuation funds,…
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Superannuation Sector Sees Modest Growth Despite Mixed Performance
Superannuation returns for the quarter ending March 2025 have shown a mixed performance, with total assets decreasing by 0.8% to $4.1 trillion. Within this, APRA-regulated funds accounted for $2.9 trillion. Despite this decline, superannuation returns saw a modest growth of 5.9% over the past year. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide to…
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Simpler Super: Experts Propose Reforms to Ease Retirement Planning
In a recent podcast, Brendan Coates and Joey Moloney from Grattan Institute delve into the complexities of retirement planning in Australia. Their report, “Simpler super,” sheds light on the overwhelming nature of retirement income management for many Australians. Surveys indicate that a significant portion of the population finds retirement planning stressful, leading to financial concerns…
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Superannuation Contribution Caps to Increase, Benefit Older Workers
Superannuation contribution caps are set to increase for the first time in three years, thanks to robust wages growth data released by the Australian Bureau of Statistics. These caps, which govern both concessional and non-concessional contributions, are tied to wages growth and are periodically adjusted. Come July 1, the concessional contribution cap will climb from…
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PensionBee Launches Innovative Retirement Savings Calculator for Americans
PensionBee, a renowned online retirement savings provider, has introduced a groundbreaking retirement savings calculator aimed at assisting Americans in planning for their financial future. This innovative digital tool is designed to help users develop personalized retirement strategies seamlessly integrated with PensionBee’s existing features, such as easy contributions and 401(k) rollovers. Savings Building Planner: Savings Tracker…
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Chalmers Vows Fair Tax Reforms for Super Funds
Treasurer Jim Chalmers has reaffirmed the government’s commitment to implementing tax reforms, specifically targeting unrealized capital gains in high-value superannuation accounts. Despite broader discussions on tax reform, Chalmers emphasized the importance of maintaining existing commitments to ensure equity in the system and long-term fiscal sustainability. Superannuation and Taxation: A Practical Guide to Saving Money on…
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Superannuation in Australia Surges with $4.2 Trillion Investments
Superannuation in Australia has grown significantly, with the country now holding the fifth-largest pool of retirement savings globally. As of December 2024, the total investment in super reached $4.2 trillion, marking an 11.5% increase in just a year. This growth is attributed to rising compulsory employer contributions and a surge in wages. The two largest…