Super guarantee



Provided by Mercer. The information in this article does not necessarily reflect the views of the Trustee.

Working Australians will experience a gradual increase in the Superannuation Guarantee (SG) rate from 9% to 12% from 1 July 2013.

Employers will be obliged to contribute a minimum percentage of earnings (based on ordinary time earnings) to superannuation for employees. Currently the minimum is 9%.

The increase will be in increments of 0.25% on 1 July 2013 and 1 July 2014. Further increments of 0.5% will be made annually up to 2019-20, when the SG rate reaches 12%.

Financial year Charge percentage (%)
2013-14 9.25
2014-15 9.5
2015-16 10
2016-17 10.5
2017-18 11
2018-19 11.5
2019-20 (and subsequent income years) 12

Additionally, the existing age limit of 70 for SG contributions will be scrapped, making Superannuation Guarantee payments compulsory for employees of all ages.

The government will also deliver on its initiative for the low income superannuation contribution which will see low income earners receive a rebate of up to $500 in respect of tax paid on contributions to superannuation.

The Government has launched a new website featuring a calculator to help super investors work out projected "improvements" to retirement savings based on the changes:


This information has been prepared by Mercer Outsourcing (Australia) Pty Ltd (MOAPL) ABN 83 068 908 912, Australian Financial Services Licence #411980. Any advice contained in this document is of a general nature only, and does not take into account the personal needs and circumstances of any particular individual. Prior to acting on any information contained in this document, you need to take into account your own financial circumstances, consider the Product Disclosure Statement for any product you are considering, and seek professional advice from a licensed, or appropriately authorised, financial adviser if you are unsure of what action to take. 'MERCER' is a registered trademark of Mercer (Australia) Pty Ltd ABN 32 005 315 917. Copyright 2012 Mercer LLC. All rights reserved.

SA Metropolitan Fire Service Superannuation Pty Ltd ACN 068 821 750 as Trustee for the SA Metropolitan Fire Service Superannuation Scheme ABN 99 439 309 855.

This website is provided by Mercer Outsourcing (Australia) Pty Ltd (MOAPL) ABN 83 068 908 912, Australian Financial Services Licence #411980. The Trustee pays a fee for the provision of this service, however this fee is not conditional on you using this service or acting on the information or advice provided through this service.