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Australian Workers Get a Final Boost to Their Retirement Savings

Australian Workers Get a Final Boost to Their Retirement Savings

Bloomberg30-06-2025
From today, Australian workers get a final boost to their mandatory retirement contributions — a key milestone for the country's A$4.1 trillion ($2.7 trillion) pension system.
Employers will now be required to pay the equivalent of 12% of workers' wages — the last scheduled increase to a number that's steadily climbed since the current superannuation system was created in the early 1990s. Back then, employers contributed the equivalent of 3% of wages.
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