Rest, one of Australia’s largest profit-to-member superannuation funds, is celebrating a step forward for fairness and equity in super, with the Superannuation Guarantee rate rising to 12% and super contributions added to the Commonwealth Parental Leave Pay scheme from today.
With the Superannuation Guarantee (SG) rate now rising from 11.5% to 12%, a 30-year-old Rest member could be around $11,200 better off at retirement, analysis suggests.1
Rest’s General Manager of Public Policy & Advocacy, Enrico Burgio, says the increase is a significant stride towards a fairer retirement for the fund’s 2 million members, who are more likely to work in part-time and casual roles.
“Many of our members retire with balances below the national average, so every extra dollar can make a real difference in shaping their future and getting them closer to their best-possible retirement,” says Mr Burgio.
“An extra $11,200 at retirement is meaningful for so many of our members. It’s a clear reminder that even small changes today can lead to big benefits in the future for working Australians.
"When you consider that eligible parents will also now receive super on their Commonwealth Parental Leave Pay payments – helping to close the gender super gap – today is truly a milestone day towards fairer and more equitable super."
Today’s changes complement the other significant progress in recent years, such as the removal of the $450 monthly income threshold, and the proposed introduction of Payday Super and Delivering Better Financial Outcomes reforms.
"While these changes are a hugely welcome step forward for all working Australians, we know there are still many, including women, younger workers, First Nations peoples and lower-income workers, who continue to miss out on the full benefits of our world-class superannuation system,” says Mr Burgio.
“We’ve put forward a number of policy recommendations to Government that we believe will support fairer and more equitable retirement outcomes and make a positive difference to the world our members will retire into.
"Our priority recommendation is to extend the Superannuation Guarantee to all under-18 workers, removing the unfair and discriminatory exclusion for those working less than 30 hours per week, with an appropriate transition period for business.
"We welcome and congratulate Government on the positive changes commencing on 1 July and look forward to working with Government on further improvements to the super system.”
Rest’s 2025-26 Pre-Budget submission can be found here.
1About the analysis
The cameo member is 30 (the median Rest member age) and will retire at age 67.
The cameo member’s starting balance is $31,890 (the median balance for 30-year-old Rest members).
The cameo member’s income starts at $46,436 (the annualised median weekly earnings for retail trade workers, as at August 2024, via Australian Bureau of Statistics, December 2024).
The analysis assumes continuous accumulation of SG contributions until retirement (and no additional personal contributions), and that the member does not have insurance.
- an annual gross investment return of 6.81%;
- annual inflation of 3.7%, reflecting the assumptions in ASIC’s moneysmart Superannuation Calculator;
- the member is incurring the following fees and costs per annum:
- Rest Super administration fees of $1.50 per week plus 0.10% cent of their account balance (the account balance fee component is capped at $600), and
- total investment costs of the Growth investment option of 0.63% of the account balance; and
- earnings are assumed to be taxed at an effective rate of 7%, used in ASIC’s moneysmart Superannuation Calculator, and contributions are taxed at the relevant rate of 15%.
The cameo analysis is illustrative only. It should not be relied on for the purpose of making a decision in relation to a financial product.
About Rest
Established in 1988, Rest is one of Australia’s largest profit-to-member superannuation funds, with around two million members and around $93 billion in funds under management as at 31 March 2025.
For more information, please visit our media centre or contact:
Michael Mills
Senior Manager, Communications – Media Relations
michael.mills@rest.com.au
m: 0428 499 722
Emma Kerswell
Senior Manager, Communications - Consumer & Content
emma.kerswell@rest.com.au
m: 0408 853 943
This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant PDS and TMD which is available at rest.com.au/pds. Issued by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003 (Rest), trustee of Retail Employees Superannuation Trust ABN 62 653 671 394
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