Superannuation guarantee insights

From 1 July 2022, there were two important super changes that affected organisations and working Australians.

  • The superannuation guarantee (SG) increased from 10% to 10.5%.
  • The $450 minimum monthly earnings threshold to be eligible for SG contributions ceased to apply.

To help you make informed decisions and remain a competitive place to work within your industry, we asked organisations across Australia what they were doing, and collated the findings.

81%

2021 superannuation guarantee (SG) increase


Following last year’s SG increase, 81% of participating organisations said they funded the amount of super paid by the organisation by the full 0.5%

 

87%

2022 superannuation guarantee (SG) increase


For employees currently receiving the SG minimum, 87% of participating organisations will fund the amount full 0.5% into super on top of the current salary 

 

32%

2022 superannuation guarantee (SG) increase

 

For employees currently receiving above the SG minimum, 32% of participating organisations will fund the amount of super paid by the organisation

Superannuation guarantee insights

The rise in the minimum superannuation guarantee (SG) adds extra costs for organisations, individuals or both, depending on how the organisation decides to fund it. Beyond the monetary impact, how organisations manage the superannuation guarantee (SG) increase could impact employee engagement and retention at an uncertain and volatile time for the economy.

 

How organisations approach the superannuation guarantee (SG) increase has never been more critical. Not just for 1 July this year, but towards 2025.

 

Get in touch with Mercer...

Dr David Knox BA PhD FIAA
Senior Partner, Senior Actuary

Jessica Balcombe
General Market Product Lead, Pacific

 

Download the Superannuation Guarantee Report

Get in touch with us today to find out how Mercer can help your organisation plan for the next superannuation guarantee increase.

*Required Fields

Learn more about Mercer can help you achieve your Superannuation and Retirement objectives 

Global Talent Trends 2022
Closing the super gap
What We Do: Super and Retirement