{"id":7798,"date":"2023-01-09T12:02:31","date_gmt":"2023-01-09T01:32:31","guid":{"rendered":"https:\/\/adelaideprivatewealth.com.au\/superannuation-guarantee-why-its-important\/"},"modified":"2023-01-09T12:02:31","modified_gmt":"2023-01-09T01:32:31","slug":"superannuation-guarantee-why-its-important","status":"publish","type":"post","link":"https:\/\/adelaideprivatewealth.com.au\/superannuation-guarantee-why-its-important\/","title":{"rendered":"Superannuation Guarantee: why it\u2019s important"},"content":{"rendered":"
The superannuation guarantee is an important part of the superannuation system. It was introduced on 1 July 1992 to increase the financial security of Australians once they are no longer working. Its aim is to provide funding for Australians in retirement, so that fewer people have to rely solely on the Government Age Pension as a source of income.<\/p>\n
The superannuation guarantee, or SG, dictates the minimum percentage of your earnings your employer needs to pay into your super fund. The Australian Government controls and legislates the super guarantee.<\/p>\n
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From 1 July 2022 the SG is 10.5% p.a.<\/p>\n
The super rate is due to increase a further 0.5% each year until it reaches 12% in 2025.\u00a0These increases have been legislated by the Australian Government.<\/p>\n
The superannuation guarantee increase is planned as:<\/p>\n