If you have a full-time, part-time, or casual job, your employer is required to make super contributions to a fund on your behalf at the rate of 11% (from 1 July 2023) of your wages. If you are under 18, super contributions are only payable if you work more than 30 hours per week.
Super quick tips
Multiple accounts can cost you more over time. Each account will typically have a fixed administration fee and possibly insurance cover costs. The more accounts you have, the more fees you’ll pay.
Consolidating your super accounts isn’t hard. All you have to do is login to your MyGov account and head over to the ATO section to view the accounts you have. You can consolidate your accounts from there.
Your super fund will have several different investment options for you to choose from. As your life and circumstances change, the type of investment option that suits you best will also change.
What are investments and how do they work?
Want to know how you can super-charge your super savings? Check out the many ways you can grow your super faster.
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