Superannuation guarantee delayed until 2021

Legislation was passed in September 2014 that will slow down the increase in the rate of Superannuation Guarantee from 9.5% to 12% by three years. The first incremental increase from 9.5% to 10% was scheduled to take place on 1 July 2018, but this has now been delayed until 1 July 2021. This means that the full 12% will not apply until 1 July 2025 (previously 1 July 2022).

The following table shows the old and new Superannuation Guarantee rates:

superannuation_table

Posted in Legislation |

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