About this time of the year your annual superannuation statement should drop into your inbox. Or perhaps it comes by mail. If you bother to open it and check the detail you’ll be in the smart segment of Australians who actually care about the performance of their super. Sadly, many don’t, according to Joshua Lowen, Insights Manager at SuperRatings. He reports that only 55% of members of funds open their statements, with 45% choosing to ignore them.
Nearly three-quarters of Australian retirees will receive a ‘pay rise’ on 20 September when the Age Pension is next indexed. This indexation occurs twice a year, on 20 March and 20 September. It is the method by which the payment rates of the Age Pension are kept ‘real’ in terms of inflation, cost of living and movements in wages.
A big shout-out to the more than 3000 Retirement Essentials members who took the five or so minutes to answer these questions. We now have a much clearer idea of the best information to share to keep you totally up to date with your super savings options.