Superannuation Guarantee (SG)

The superannuation world is full of too much jargon, and the “superannuation guarantee” is one of the worst culprits. Although it’s not common to everyone’s vocabulary, it is in fact the most common type of contribution going into your super.

The Superannuation Guarantee – or SG for short – is the contribution your employer is required to make into a super fund on your behalf. The SG is part of the remuneration you receive from your employer. The amount is a percentage of your salary or wages, with the percentage set by the Australian Government and changing over time.

The current rate for SG payments by your employer is 9.5%, with this rate currently set to continue until 1 July 2021, when it will increase to 10%.

Generally you are eligible for SG if you are over 18 and earn more than $450 per month (before tax).

Learn more about SG in the following key SuperGuide articles.