Thu, 27th Feb 2025

In this week's Superannuation News Wrap, Paige Estritori outlines Australians' growing concerns around retirement due to rising living costs. Research reveals that 1 in every 6 Australians over 43 feel retirement is unaffordable, while confidence in a comfortable retirement is rapidly declining. However, Australians are increasingly utilizing financial planning services, which has been found to boost financial confidence. Furthermore, the Super Members Council is urging for reforms to be made to payday super in order to combat issues with employers not making superannuation payments. By aligning super contributions with wage payments, the touted reform, set to start from July 2026, can potentially bridge the $5 billion gap in unpaid super and increase retirement savings for approximately nine million Australians.n