$500 extra into your Super if earning up to $37,000 per year

Australian Government has made new improvements to superannuation. The improvements will benefit all workers in Australia by making it easier for people to increase and manage their super savings for retirement.

The workers ought to know that their employer should be paying them a minimum 9.25 per cent super from 1 July this year. This minimum rate ”“ called the ”˜super guarantee rate’ – will keep rising each year until it reaches 12 per cent.

For people earning up to $37,000 per year, the Government will put up to $500 extra into their super account every year. People don’t need to do anything to apply.

Workers will also benefit from other improvements starting 1 July this year. These improvements include:

– removing the upper age limit on super payments, so people aged 70 years or older may be eligible to receive super from their employer

– super funds introducing a new type of account called MySuper, which has low fees and simple features.

There is campaign about Super aimed at employers to provide them with information about their new super obligations and the Government assistance available. This includes the free Small Business Superannuation Clearing House to help meet super guarantee obligations.

The campaign theme is Super. Your money, your future to remind people that super is real money, and that by improving super now, people will have more money for later.

Visit www.australia.gov.au/superfuture for information in English and to see the advertisements.

Short URL: https://indiandownunder.com.au/?p=2241

Posted by on Apr 3 2013. Filed under Community. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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