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Date of article: 20 May 2014
Last updated: 20 May 2014

Changes to increase in superannuation guarantee rate

The Government will continue with the increase of superannuation guarantee (SG) rate to 12 per cent from the current 9.25 per cent, but the timing of the increase will change.

The SG rate will increase to 9.5 per cent on 1 July 2014 and remain at this level until 30 June 2018.

It will then increase by 0.5 per cent each year until it reaches 12 per cent in 2022-23.

 

Year SG %
1 July 2013 - 30 June 2014 9.25%
1 July 2014 - 30 June 2015 9.50%
1 July 2015 - 30 June 2016 9.50%
1 July 2016 - 30 June 2017 9.50%
1 July 2017 - 30 June 2018 9.50%
1 July 2018 - 30 June 2019 10.00%
1 July 2019 - 30 June 2020 10.50%
1 July 2020 - 30 June 2021 11.00%
1 July 2021 - 30 June 2022 11.50%
1 July 2022 - 30 June 2023 12.00%

 

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