Why do I need Superannuation?
Superannuation is there to provide you financial support in your retirement.
If you’re working and earning more than a certain amount, your employer has to put extra money into your super account on top of your regular pay. This is called the Super Guarantee (SG).
- from 1 July 2024, your boss must put in 11.5% of your regular earnings.
- From 1 July 2025, that goes up to 12%.
These payments happen at least four times a year (every quarter).