The $3 trillion superannuation system in Australia is intended to provide a comfortable retirement for millions of citizens, but its success depends on the honesty of employers, which is not always the case. So, how can you check to see if your employer is paying you the right amount of superannuation?
Not surprisingly, most people don’t want to think about tax, superannuation or death but these three things play a significant part in every Australian’s life – especially because it concerns not just you, but your dependents.
Do you understand superannuation or are you a bit hazy about the details? Like, if you earn over $450 per for the same employer, you’re entitled to be paid super? Read on to find out all you need to know:.
The Superannuation Guarantee (SG) is the minimum amount that your employer should pay into your fund and has been increased to 10.5% from 1 July 2022 and is set to increase 0.5% every year until it reaches 12% from 1 July 2025. Our short report details what you should be aware about when it comes to your super.
There have been recent changes made to the rules that surround superannuation that came into effect 1 July 2021 that will affect many Australians. The super contributions cap has increased, the contributions cap has increased and there are schemes that could be to your advantage. Our short report explains the changes in detail.
You don’t have to think of your superannuation fund as passive. In fact, being proactive with how your super is invested can influence its outcome when you’ll need it the most.