federal budget 2025

With an election announcement imminent, the March Federal Budget delivered no new measures or surprises for super.

In positive news for many HESTA members, the Budget puts cost-of-living relief at its centre, and forecasts a resilient domestic economy with inflation subsiding, and strong employment and wages growth, amidst the heightened global economic uncertainty.

The Government has promised further personal income tax cuts, energy bill relief, more subsidised childcare, further pay rises for aged care nurses, more bulk billing, reduced pharmaceutical benefits scheme (PBS) co-payments, as well as cuts to student debt and reforms to the student loan repayment system to provide cost of living relief.

However, HESTA encourages more government measures to close the gender super gap, which sees women retire with around 25% less super than men on average.

Read the full budget breakdown on the HESTA website.