What is Superannuation Guarantee?
As an eligible employee, super is compulsory and forms part of your overall pay. Your employer must pay a minimum 9.25% of your ordinary time earnings (OTE) as a contribution to a complying super fund like Club Plus Super. This is called the Superannuation Guarantee.
There are some exceptions to this:
- If you earn less than $450 in a calendar month
- If you are aged under 18 & work less than 30 hours/week and earn less than $450.