The super guarantee rate has already risen to 9.25 percent and will climb to 12 percent over the next seven years, plus the upper age limit has been removedd.

This means that no matter how old you are, you can still grow your super if you’re working.

This is good news for people in retirement villages who are still in the work force. It also means they’ll benefit from the gradual rise in the super guarantee over the next seven years.

The Australian Tax Office says that for a 55-year-old teacher contemplating the last decade of their working life, the increase in SG will result in an extra $12,000 when they retire at age 67.

Research from the ATO says that while mature Australians tend to be more engaged with their super and are confident about making decisions affecting their retirement, many workers over the age of 50 won’t retire with enough money to live comfortably.

It is anticipated that these changes to super  and the super guarantee will help alleviate this problem.

Further advice about these reforms is availble from the ATO.