The Superannuation Guarantee

The superannuation guarantee (SG) is the term used to describe the minimum payments your employer must make to your super fund on your behalf under Commonwealth law.

These payments are made from your pre-tax income, and will generally be disclosed on your payslip along with your income and any tax withheld.

SG payments can be made on your behalf, this can include for members over age 75.

Now, and until 1 July 2021, the SG rate is 9.5%. In other words, your employer is currently expected to contribute 9.5% of your (pre-tax) income to your superannuation fund.

The SG rate will then increase gradually in successive years until it reaches 12% on 1 July 2025.

This is a sponsored advertising promotion by First Super Pty Limited (ABN 42 053 498 472, AFSL 223988) as trustee of First Super (ABN 56 286 625 181).  This publication may contain general advice which has been prepared without taking into account your objectives, financial situation or needs. You should consult the Product Disclosure Statement (PDS) firstsuper.com.au/pds before making any investment decision. Before making a decision to combine your superannuation, you should consider any costs, change to insurance cover or loss of benefits that may apply and, if necessary, consult a qualified financial adviser. Past returns are not a reliable indicator of future returns. Content was accurate at the date of issue in July 2020, but may subsequently change. Please contact First Super on 1300 360 988 for updated information or to obtain a copy of the PDS. No commissions or fees are paid to NZ Relo as part of this promotion, apart from advertising costs.

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