You need to pay 9.5% of most employees’ normal pay into their super fund each quarter.
To help grow Australian workers' retirement savings, the compulsory super guarantee (SG) rate will gradually increase to 12%. The SG rate is currently 9.5%. This will remain until the 2020-2021 financial year, then will gradually increase until it reaches 12% by 1 July 2025 as shown in the table below.
Financial year | SG rate |
---|---|
2014-2015 | 9.5% |
2015-2016 | 9.5% |
2016-2017 | 9.5% |
2017-2018 | 9.5% |
2018-2019 | 9.5% |
2019-2020 | 9.5% |
2020-2021 | 9.5% |
2021-2022 | 10% |
2022-2023 | 10.5% |
2023-2024 | 11% |
2024-2025 | 11.5% |
2025-2026 | 12% |
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