12% super guarantee by 2025 - small increases equal big benefits

Jul 01, 2022

It’s an important part of the superannuation system and adds up to support Australians financially in retirement overtime. From 1 July 2022, the SG rate will be 10.5%. 

12% by 2025
The super guarantee has been legislated to rise incrementally by half percent each year until it reaches 12% in 2025. This is good news for workers receiving superannuation. While such a small increase may not sound like much – over time, it could have a big impact on the retirement savings of Australians.

What difference does 10.5% SG make?
The SG increase means people won’t have to work as long to save the same amount for their retirement. Even small increases to the SG could make a big difference in the long run.

Keep track of your super increase to 10.5%
Employers are required by law to pay a minimum of 10.5% into eligible employee super accounts from 1 July 2022. You can check your pay slip and super account to see that this has been done. 

To read more on how the super guarantee increase could impact retirement savings for Australians and what employees can do to make sure they’re getting 10.5%, read the full AustralianSuper article here. 

Sponsored by AustralianSuper Pty Ltd, ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.