1.5 million Australian workers will see an $18.70 boost in their pay packets from 1 July and around 8.4 million workers will see their superannuation contributions increase to 9.5% - all hard fought for by Australian workers and their unions.
“Australian working people deserve decent wages when they’re working and security in retirement,” ACTU Secretary Dave Oliver said.
“From 1 July, the minimum wage will increase to $16.87 per hour, or $640.90 per week and the superannuation guarantee will be lifted from 9.25% to 9.5%.”
“Workers should keep an eye out to make sure their pay packets reflect these important changes.”
Mr Oliver said that unions were the only ones who fought to increase the minimum wage.
“Employers didn’t want minimum wages to rise in real terms at all, having sought an increase somewhere between nothing and $10 per week – a real wage cut,” Mr Oliver said.
“The Abbott Government didn’t go into bat for an increase in the minimum wage either, which is unsurprising given they are considering a plan to cut the minimum wage every year for ten years.”
Mr Oliver said that the superannuation guarantee had been due to rise to 12% by 2019 but the Abbott Government had not only put this on ice but was scrapping the valuable low income super contribution (LISC), which means people earning $37,000 or less won’t receive an added contribution to their super accounts.
This will cut the retirement savings of almost 3.6 million workers, including 2.2 million women – half of Australia’s female workforce,” Mr Oliver said.