Su­per help for young

Herald Sun - - NEWS -

YOUNGER Aus­tralians will have more money in their re­tire­ment kitty af­ter an over­haul of the su­per­an­nu­a­tion sys­tem.

One of the na­tion’s largest su­per­an­nu­a­tion funds, Aus­tralianSu­per, will scrap au­to­matic in­sur­ance for new mem­bers un­der 25, which is tipped to de­liver them an ex­tra $9000 come re­tire­ment.

They will in­stead be re­quired to opt in to in­sur­ance.

Aus­tralianSu­per’s Rose Ker­lin said younger peo­ple were un­likely to make a claim, and pay­ing for un­nec­es­sary in­sur­ance would hin­der their re­tire­ment bal­ances.

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