What does the Superannuation Guarantee increase mean for me?
The Superannuation Guarantee is the minimum amount that your employer must contribute to your super, calculated as a percentage of your ordinary time earnings.
With over $2.8 trillion in the system*, it’s no wonder superannuation is always making headlines. According to the Treasury, it’s now the second largest part of Australia’s financial system.
We’ve launched a range of new features on your online account, including a calculator to help you work out how much super you could have in retirement and how long it will last.
This calculator can also help you create and compare different scenarios by adjusting your income, super contributions, investment returns, retirement date, and more.
The Superannuation Guarantee is the minimum amount that your employer must contribute to your super, calculated as a percentage of your ordinary time earnings.
Super is constantly evolving to ensure it meets the needs of retirees, and Australians saving for their retirement. That means there are a couple of important changes coming to super on 1 July 2021 that you should be aware of.
The Federal Government announced a range of measures in its 2020 Budget aimed at getting the economy back up to speed. Along with a range of stimulus measures, the Treasurer also announced a number of measures around superannuation, bundled up as the ‘Your Future, Your Super’ reforms.
If you need help with making a decision about your super, you can get simple advice over the phone or face to face. It’s included as a part of your membership so there’s no extra cost.