Victorian workers to lose billions if super increase is scrapped

Victorian workers would lose $3.6 billion from their retirement savings a year if politicians ditch a promised increase to their super rate, new modelling reveals.

Workers in the electorates of Melbourne and the western suburbs electorate of Lalor would both lose more than $144 million from their super accounts.

The Super Guarantee rate is legislated to rise to 12 per cent by the middle of 2025. Industry Super Australia (ISA) analysis shows that if the government breaks its promise and super stays at 9.5 per cent, by 2025 the average Victorian worker would have already lost $1,640.

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