Young and low-income worker win big in nest egg boost

More than 6.7 million Australians will benefit from a boost to their nest egg from July as the super rate increases to 10%, with young workers and low to middle-income earners the big winners.

From July 1 an extra $233 a year will flow into the super accounts of the average worker.

This super boost may be small, but it will make a big difference at retirement – with a 30-year-old on the median wage expected to have an extra $19,000 at retirement, a couple will have an extra $38,000.

In total Australians will get an extra $1.5 billion paid in super in the next 12 months.

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