I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Whether Compulsory Superannuation Should be Increased or Not

A Super fund for compulsory is set to rise from around 9% to 12%. In the next few month, the grains of the independence looks to set a government legislation if it passed to face the rise over the next generation. Some have argued that it will going to serve only to abundant person, otherwise majority of workers experience increase of expenses because of the said fund.

It is proven that most of workers that work a very long time retire poor because of the little benefits that they have with their insurance fund.

Professionals argue that there is little benefit for working in a very long time and retiring poor. Even at 9%, if you want to take out a certain amount as a housing deposit, and you commit to increasing Super after that say 10 or 5%, why can't we? That's the question experts are asking. The Super debate here is whether the money employers have to set aside for work as retirement savings; compulsory super, need to rise from 9% to 12% as the government plans. Some of the critics argue that the well-paid benefit most from Super because itís taxed at a flat rate of 15%, way below the income tax rate. But for lower-paid workers, the trade-off for higher Super would be lower wages. As employers look to draw back the added cost.

But organizations like the ACTU agrees with the increase. They are thinking of going to 12%. Since the introduction of Super Funds in the 1990s, the trade union movement has always held that to provide an adequate retirement income, a 15% of somebodyís wages is probably the best figure actually to achieve it. The ACTU doesnít accept that more Super would mean low pay rises for workers in the here and now.

When Superannuation was first introduced in the first instance, there was a wager set of 3%, and that's the only time that that has happened. All the other increases went up to 9%, and there were steady wage rises during that period. Thereís one sure beneficiary of increasing the pool of money in Super, and that is the Finance Industry.

If you are intrigued about this top and want to know more about it. Feel free to read our articles on www.australiansuperfinder.com.au

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