What is superannuation?
Though mandated by the government, making smart contributions over the course of your life is an investment in your future and could mean the difference between a modest retirement and a comfortable one.
How does superannuation work in Australia?
If you’re 18 years or over and working in Australia, you are generally entitled to compulsory superannuation contributions from your employer.
You’ll receive super contributions from your employer regardless of whether you’re a full-time, part-time or casual worker, or even if you’re a temporary resident of Australia.
From 1 July 2022, the minimum SG contributions your employer must pay is 10.5% of your ordinary time earnings (OTE). OTE are what you generally earn for your ordinary hours of work.