Latest news with #AustralianRetirementTrust
AU Financial Review
2 days ago
- Business
- AU Financial Review
Soul Patts invests in big battery developer North Harbour
Soul Patts is boosting its exposure to energy storage with an investment in Grant King-chaired North Harbour Clean Energy, providing about $40 million of capital to take the outfit through to financial close on its first two battery projects. The diversified investor will take about a one-third stake in the group, joining superannuation funds such as Australian Retirement Trust and King himself in backing North Harbour's strategy to build a portfolio of long-lasting storage capacity that it expects will become an increasingly important part of the energy supply mix to support renewables.
Yahoo
30-06-2025
- Business
- Yahoo
Superannuation alert for Aussie workers ahead of major July 1 change: 'Has to go down'
Millions of workers around Australia will benefit from a huge superannuation change that comes into effect on July 1, however, there are some who could be worse off. While the minimum wage and superannuation contribution rates are going up, those on certain contracts might find their take-home pay actually goes down. This could apply to those who have a salary package that is inclusive of superannuation. CPA Australia's superannuation lead, Richard Webb, told Yahoo Finance it's worth checking your contract or agreement ahead of Tuesday's change. "Broadly, the mathematics for people on total remuneration packages is such that if one goes up, the other has to go down," he said. More superannuation changes flagged as Baby Boomers get anxious Days left for millions of Aussies to claim ATO $20,000 tax benefit ATO reveals 10 highest paying jobs in Australia At the moment, your employer is obligated to send 11.5 per cent of your pay to your superannuation fund. From July 1, that rate will go up to 12 per cent as the mandatory minimum. It's been going up by 0.5 per cent increments since 2020. The Australian Retirement Trust (ART) said this five-year plan would see a 30-year-old earning $100,000 each year retire with an additional $125,000. 'This half per cent step may seem small, but for working Australians, it's like reaching the summit of your own financial Everest,' ART's Anne Fuchs said. 'Since the Superannuation Guarantee (SG) was introduced in 1992, it has become the cornerstone of Australia's retirement system – evolving from a modest 3 per cent contribution to a robust framework that provides you with meaningful savings for your future.'The SG rate increase will benefit a lot of workers as many of them will have organised a salary plus superannuation package when they scored their job. If they're getting paid $100,000 per year, for example, that means their employer will contribute an additional $12,000 to their retirement nest egg. But, if their pay was $100,000 per year including super, their actual pre-tax take-home would be $88,500. With the changes to super from July 1, that number could drop by $500 to $88,000 to account for the 0.5 per cent jump. There's no official data on how many Aussies have a salary package that includes super. When you're looking at job adverts, if it displays how much the pay is, it will usually reveal whether super is included in that number or if it goes on top. If the number isn't displayed, it's worth asking the recruiter or hiring manager what the setup is, so there are no surprises when you get your first pay cheque. Webb said it's worth checking your contract to see if it mentions how your pay is structured. If you don't have that document handy, there is another course of action. "Go and chat to your employer and see how they think this is going to work out," he said. "In most situations, employers are already geared up to get these questions from their employees, and may actually have something ready to go that they can give to them that explains it all." Employers who don't have that knowledge need to start reading up on all the changes happening from July 1 to ensure staffers don't get accidentally "blindsided". "It's a great reminder for employers to make sure that their employees have got the right idea about how things are going to change," he in to access your portfolio
AU Financial Review
25-06-2025
- Business
- AU Financial Review
Australian Retirement Trust bankers up to lift ElectraNet stake
The Australian Retirement Trust is preparing to increase its stake in South Australia's electricity transmission network ElectraNet, a monopoly infrastructure asset that was privatised by the state government 25 years ago and now owns more than $4.5 billion in assets. The country's second-largest superannuation fund has mandated Barrenjoey for advice on acquiring a 17 per cent stake in ElectraNet, put up for sale by the Macquarie-managed The Infrastructure Fund. That would take ART's existing 11 per cent shareholding to about 28 per cent.
ABC News
25-06-2025
- Business
- ABC News
What you can gain by checking your super account more often
When was the last time you checked your superannuation account? If you're struggling to find your most recent statement or remember your log in details, you aren't alone. Research commissioned by the Australian Retirement Trust shows four out of every five Australians don't know how much they're putting away for retirement. But experts say there are some good reasons we should be checking in on our retirement savings more regularly. Finance and economics consultant Pauline Taylor says we all receive an annual benefit statement at the end of each financial year from our superannuation fund, which we should "file away somewhere". The Melbourne/Naarm-based author says the statement will give you an indication of how much super is in your account and whether it's growing. "You look at the amount your employer is putting in under the superannuation guarantee, some extra money you might have put in as a voluntary contribution and the returns on the investments that your super money is invested in," she says. Kate McCallum is a financial adviser and author based on Darkinjung lands on the New South Wales Central Coast. She recommends carrying out a yearly "super service" (like a car service) to understand taxes, fees and what investment options you're in. "This is really important because a lot of the defaults are age based," she says. "So, if you flip over an age category, you may find that you've been automatically moved out of, let's say, a growth portfolio into a balanced and that may not be what you want." She also recommends checking your super fund's investment management fee. "You don't see that investment management fee because it's actually taken out of your investment returns," she says. "The average fee is one per cent, so if you're paying more than one per cent that's pretty expensive." Anne Fuchs from the Australian Retirement Trust recommends people download their super fund's app on their phone, in the same way they do for banking apps. "Four out of five Australian's don't know what superannuation they're entitled to, in terms of what is the percentage that their employers have to pay as part of their salary," she says. From July 1, Australia's superannuation guarantee rate will from increase from 11.5 per cent to 12 per cent. This is the percentage amount of your ordinary earnings that should be paid into your super by your employer. "This is why it's really important that people pay attention to this compulsory saving that's linked to their wages," she says. The Australian Taxation Office (ATO) says the best way to perform a super check is either on ATO online services through myGov or by contacting your super fund directly. The ATO says it's important to check your super balance each year to see how much you have and keep track of your employer contributions. "Your employer should pay your super at least every three months," a spokesperson says. "They may choose to do it more frequently, such as your regular pay cycle." If you do not receive super contributions or the amounts are incorrect, contact your employer and request an update or report it to the ATO. In a best-case scenario, money you didn't know you had. If you do a super check through myGov, you might find you have lost or unclaimed super which you can roll into one account. You may have lost track of some of your super when you changed your name, address or job. The ATO says this is why it's important to ensure your super fund has your current details. "Lost super is when your fund has lost touch with you, or your account is inactive," a spokesperson says. Kate McCallum says you might also find that you want to change to a fund that has lower fees. To reach a comfortable retirement, here is the estimated super balances needed at certain ages: *Estimated balance via ASFA Super Balance Detective calculator I have always checked my super balance directly through my superannuation fund, but decided to put the myGov check to the test. I had already linked the ATO to my myGov account, so the process was made easier. I was surprised to find that I have two superannuation accounts; however, one wasn't active and had a zero-dollar balance. It also wasn't charging any fees, so I have marked it to follow up and close. During my super check-in also discovered that my death beneficiary nomination had lapsed, and I needed to update it. This wasn't a straightforward process as my fund required me to post a copy of the form, rather than email or update it online. The ATO recommends taking the time to ensure you have a valid death beneficiary nomination in place with your super fund, as this isn't covered by your will. This means your loved ones will not be put through unnecessary difficulties to finalise your estate. Most binding nominations expire every three years. This article contains general information only. You should consider obtaining independent professional advice in relation to your particular circumstances.
Daily Telegraph
21-06-2025
- Business
- Daily Telegraph
NSW suburbs that outperform top super fund
NSW homeowners in over 200 suburbs could be building retirement wealth faster than their super fund, new research reveals. Comparison site Finder has revealed how Australia's super funds compared to that of property price growth over the past ten years. The research found that a shocking 23 per cent – equivalent to around 4.6 million people – said they didn't have enough money in their super fund or other investments to get by in retirement. Australian Retirement Trust's super savings high growth fund had the highest returns, with a 8.79 per cent annual 10 year return, yet there were over 200 suburbs in NSW that out performed that. Houses in Millfield, Lockhart, Brunswick Heads and Clareville were among the top performers, growing by an average of 11-16 per cent annually over the past 10 years. MORE: 'They're off': $962m king's look into real estate woes Retired publican lists $12m apartment How you can save this end of financial year The average 10-year performance across all super funds is 5.7 per cent a year, according to Finder, while Sydney's 10 year annual compound property growth rate was 6.4 per cent. Finders money expert Richard Whitten said the more attention you give your superannuation now, the better off you'll be. 'It's truly a shame to reach retirement age only to find you have 'too little too late.' You can avoid this by taking proactive steps to engage with your super as soon as possible,' he said. He added that to have a comfortable retirement, a single person might need around $595,000 in their super by 67. 'Many Australians are still well below the amounts suggested for a comfortable retirement, making proactive engagement even more critical.' Ben Kingsley, managing director of Empower Wealth Advisory and co-author of 'How to retire on $3,000 a week,' said your return on investment could be higher with property, but warned there were always risks involved. 'If you're going to invest in property you don't want to be speculating, you want to be investing for the decades, not the short period of time,' he said. MORE: Singles face impossible property reality 'One of the advantages of investing in property is it isn't locked away until you're in your 60s. It gives you the ability to leverage from those returns, to accelerate some growth in further returns – use the proceeds or equity to add to your initial property portfolio, which is something to consider.' '(Super) is a sort of set and forget for most Australians, with property when you do have ownership you have control, you can tinker with the property itself you can add value to the property,' he added. He noted it was important to diversify when it came to setting up for retirement. 'You can't save your way to retirement, you need to put your money to work, whether that's additional contributions to super, or investing in shares or property, you're better off starting to think about it in your 30s,' he said. Canstar's director of data insights, Sally Tindall, said Aussie's shouldn't be choosing between a healthy super amount and a property, but should aim to invest in both. 'It comes down to personal preference, but open your mind to achieving both. Don't put all your eggs in one basket,' she said. 'It's not a simple comparison and there's a multitude of factors, there's tax implications on both sides, and whether you're purchasing as an investor or an owner-occupier,' she said. Recent Labor government tax changes, which apply an additional 15 per cent tax on earnings for super balances exceeding $3 million, would affect an estimated 80,000 Australians (0.5% of super account holders). MORE: Rare backyard find that can kill you 'It will be interesting to see how that plays out over time, as the government has said that $3m won't be indexed, which could then start to impact many more people in many years to come as the number of people with that sum starts to increase, so that's another factor in the equation.' With the super guarantee increasing to 12 per cent on July 1, Ms Tindall said this may encourage some people to take the property route, knowing their employee is contributing more to their super. 'It's also not just the super vs. mortgage, there are plenty of other things like shares people could be putting their money into. It's important to understand what the mix is and understand the pros and cons and the sacrifice you might have to make, as well as the benefits you can get from each one.' MORE: New builds vanish amid loan slump TOP 20 NSW GROWTH SUBURBS OVER 10 YEAR AVERAGE
