Most of us are familiar with superannuation to some extent, and the ‘9.5% per annum’ figure that is paid by your employer has become a staple figure on our payslips for a number of years.
Here is some good news in relation to that 9.5% – its about to become 10%
As of yesterday (1 July 2021) the legislated Superannuation Guarantee (SG) rate increased from 9.5% to 10%. Further increases of 0.5% per year are to come from 1 July 2021 until it reaches 12% from 1 July 2025 onwards.
The SG rate increases were not affected by the 2021-22 Federal Budget.
Our wonderful friends in SCEA Human Resources (led by Chief Human Resources Officer Mr Sidney Rajanayagam) have already programmed the increase, and all SCEA employees will be able to see the additional contributions on their payslips from the 14 July 2021 pay onwards.
If you have any question please contact the HR team via email: firstname.lastname@example.org
If you are feeling like taking Mr Rajanayagam out for coffee in the holidays to say thankyou for programming this change into your payslip, you can send a cheerful email to email@example.com