Education & Employment

How much superannuation should I be paid?

Superannuation is your right, and it is also your retirement fund. To know more about super and to make sure you are being paid the right amount follow the guide below.

Outcome

To know what superannuation is and how much I should be paid

Let's start with why it is important:

  • superannuation is your retirement plan, it might seem pointless at the time but it all adds up by the time you retire. Your retired self will thank you for later
  • being paid superannuation is your right, if you are not being paid superannuation you need to address this with your workplace immediately

What to do next

Super ID

Keep your super ID in a safe place, you will need it when you get a job, your employer will ask you to fill out a form with this information included.

Choosing a super fund

Here is a short list of some common Australian superfunds, for more information contact the fund directly.

Australian Super is one of the largest super funds in Australia and offers low fees.

Australian Ethical is Australia's largest ethical super fund, in that they invest in projects to improve the current climate crisis, improve educational outcomes etc.

Cbus is super fund specifically for construction, manufacturing and logistical industries and offers many benefits for its members.

When choosing a super fund ensure you choose one with a good reputation, it might be a good idea to do research including asking friends, co workers and family.

How do i check if i am getting the right amount of super?

Go the link below from Moneysmart and enter your details. Your results will tell you if your employer is paying the right amount of super. If you are not being paid the right amount of super talk to you payroll manager or boss immediately.

SOURCE

More Information & Services

CALL CENTRELINK FINANCIAL INFORMATION SERVICES 132 300 (free financial advice from Centrelink)

CALL CENTRELINK INCOME MANAGEMENT 1800 132 594 (counselling service for ATSI peoples available 24/7)

CALL INDIGENOUS CONSUMER ASSISTANCE NETWORK (ICAN) 1300 369 878 (available 3pm - midnight everyday for LGBTI peer support)

Moneysmart

Offers free advice on managing your money

The Salvation Army Australia

Free financial advice


All Education & Employment