According to Australian legislation employers are obliged to make a super contribution to a complying super fund on behalf of the employers.
Employers are obliged to make at least 4 super guarantee payments to the employee super fund each year.
These contributions are currently at 9 percent phased to be gradually increased to 12 percent. It started in 1988 when Paul Keating decided to give 3 percent national wage raise in the form of superannuation contribution paid by employers. Currently, the minimum percentage employer needs to contribute has raised to 9.5% and is expected to grow further in future.
The following is the table showing superannuation increase through the years.
| Year | Percentage |
| 1992-93 | 3 / 4 |
| 1993-94 | 3 / 5 |
| 1994-95 | 4 / 5 |
| 1995-96 | 5 / 6 |
| 1996-97 | 6 |
| 1997-98 | 6 |
| 1998-99 | 7 |
| 1999-2000 | 7 |
| 2000-01 | 8 |
| 2001-02 | 8 |
| 2002-13 | 9 |
| 2013-14 | 9.25 |
| 2014-21 | 9.5 |
| 2021-22 | 10 |
| 2022-23 | 10.5 |
| 2023-24 | 11 |
| 2024-25 | 11.5 |
| 2025-26 and subsequent years | 12 |
The following people are not eligible for an employer super guarantee contribution
- Employees whose are is less than 18 years
- Employees who work less than 30 hours or fewer per week
- Employees who earn less than $450 per month
- Members of the Army, Navy or Air Force Reserve
- Employees who earn less than $450 per month.
Leave a Reply