Superannuation, or ‘super’, refers to money set aside by your employer over the course of your career to provide income in retirement. Super is important because consistent savings will lead to greater funds for your later years. You can only access super under certain circumstances, like retirement or turning 65.

The contribution is calculated as a percentage of each employee’s ordinary time earnings, with no minimum earnings threshold. The maximum earnings amount ensures excess contributions are not made. Employers have 28 days after the end of each calendar quarter to pay the super guarantee, although there are proposals to align payment with salary payment dates. The minimum superannuation guarantee rate is 11%

If under 18, you must work over 30 hours per week to qualify.
Before July 1, 2022, you needed to earn $450+ per month to get super.

If an employer fails to pay the minimum superannuation guarantee by the quarterly due date, they are liable for the Superannuation Guarantee Charge (SGC).