A new modeling tally released by the Australian federal government on Friday showed the workers' pension savings stand to gain more from the planned 30 percent mining profits tax as it would boost pension funds to $535 billion by 2035.

"The Minerals Resource Rent Tax will lock in the benefits of the mining boom for all Australians and help tackle the challenges posed by our patchwork economy, where different sectors are growing at different speeds and many small businesses are doing it tough," Treasurer Wayne Swan said in a statement.

A new modeling calculation made by the Treasury department showed the Minerals Resource Rent Tax will boost the pension of some 8.4 million Australian workers.

Australia has the world's fourth-largest funds management system at A$1.82 trillion, largely due to its A$1.3 trillion superannuation system. This ensures a steady flow of retirement savings into the market.

The controversial Minerals Resource Rent Tax is currently being finalized by the minority government for introduction to parliament's lower house next Thursday.

The Minerals Resource Rent Tax, to be enforced on large iron ore and coal mines, hopes to raise A$7.7 billion in its first two years from July 1, 2012, its target enforcement date, and is anticipated to help the budget return to surplus by fiscal 2012/13.

It would also help fund a 1 per cent cut in the company tax rate to 29 per cent, while also delivering a A$6,500 investment instant write-off for small businesses.

Once the Minerals Resource Rent Tax gets into lower house next week, government has eight days to go over through it before parliament concludes for the year. A final vote in the upper house Senate is expected in February.