Employer Contributions - Superannuation Guarantee (SG)
The usual way…
Employer contributions are the contributions made by your employer (excluding salary sacrifice contributions). This is the usual way money goes into your super account.
The amount is currently 9% of your salary in accordance with Superannuation Guarantee (SG) Legislation. However employers can pay contributions above the 9% minimum SG level.
In Australia, it is compulsory for employers to contribute to the superannuation savings of their full time, part time and casual employees who meet the criteria below:
- Earn $450 or more in a month,
and either; - Be under 70 years and over 18 years of age, or
- Work more than 30 hours per week if you are under 18 years of age, and
The above criteria specifies a minimum but employers may wish to pay contributions for staff who fall outside these parameters. E.g., pay SG contributions for an employee who is aged 73 years old.
Under an Award, you may not be able to elect to have contributions paid to your chosen fund. If you are paid under an Award, it may require your employer to contribute superannuation at the level stated in the Award no matter what you earn or what age you are. This money is not taken out of your wage or salary – it is paid in addition to your wage or salary.
Changing jobs?
You can keep your superannuation with Catholic Super even if you change jobs. Any employer can join Catholic Super and easily contribute for their employee. In most cases, it’s your choice where your employer pays your superannuation entitlements! Your employer can join online anytime in 3 easy steps.Read more about keeping your super with Catholic Super when you change jobs.
