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May 12 2022
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Did you know the Super Guarantee is increasing?

From 1 July 2023, the super guarantee rate will increase from 10.5% to 11%, meaning employers will pay more super to eligible workers.
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What is the Super Guarantee?

The Super Guarantee (SG) is the minimum amount of money an employer must pay as contributions into an eligible employee’s super account.

How do I know if I should be receiving the Super Guarantee?

Generally you should receive the Super Guarantee from an employer if you are:

  • 18 years of age and over; or
  • Under 18 years of age, and also work more than 30 hours per week for the employer.

So, what has changed?

The rate of SG contributions will increase from 10.5% to 11% of your wage or salary as of 1 July 2023. So, keep an eye out on your pay slip and check to see the increase to your super contributions. There’s no need for you to do anything, this should be managed by your employer.

Even though this increase might seem small now, it can really add up over time depending on when you decide to retire.

Is that the only change to the Super Guarantee?

This isn’t the last increase you’ll see. Over the next few years, the rate will continue to rise, all the way up to 12% in 2025.

Date New super guarantee rate
1 July 2023 11%
1 July 2024 11.5%
1 July 2025 12%

To view your contributions, download the Rest App or login to MemberAccess .

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