1 July 2013 - Changes to superannuation

From 1 July 2013, the super guarantee rate is going up from 9% to 9.25%. This will increase to 9.5% from 1 July 2014 and continue to rise each year gradually over 7 years until it reaches 12% from 1 July 2019.

If you were making super payments at the minimum 9% rate, you need to adjust payments to the new rate from 1 July 2013.

Superannuation is paid on top of the minimum entitlements in the award or agreement that applies.

Can an employee’s pay be reduced to cover the superannuation increase?
Employees can’t be paid less than the minimum wages that apply to them.
If an employee is paid more than their minimum entitlements and if their employer wants to reduce their wages to compensate for the increased super rate or for any other reason, the employer should seek independent advice from a lawyer or their employer association.

Changes to pay slip requirements
There are also changes to the information that needs to be included on pay slips. From 1 July 2013, employers will be required to give additional information about the superannuation contributions they have made or will make for the benefit of their employees.

Start date	Super guarantee rate
1 July 2013	9.25%
1 July 2014	9.50%
1 July 2015	10%
1 July 2016	10.50%
1 July 2017	11%
1 July 2018	11.50%
1 July 2019	12%