Some good news about super
The Australian Government is improving superannuation (super) to help all Australians save for their future.
From 1 July 2013, you’ll start to benefit from the first of many improvements.
The super reforms will make our super system stronger and more efficient to better protect the retirement savings of our current and future generations.
The improvements to super will:
- reduce unnecessary fees and charges
- increase retirement savings
- help provide a more comfortable and secure retirement.
If you were making super payments at the minimum 9% rate, you need to adjust payments to the new rate from 1 July 2013.
The table below shows the increased rate for super guarantee payments each year.
|Start date||Super guarantee rate|
|1 July 2013||9.25%|
|1 July 2014||9.50%|
|1 July 2015||10.00%|
|1 July 2016||10.50%|
|1 July 2017||11.00%|
|1 July 2018||11.50%|
|1 July 2019||12.00%|