Reminder that super contributions are increasing

roads super news update alert FYP for you NatRoad

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Compulsory employer superannuation guarantee contributions (SGC) will increase from 10.0% to 10.5% per annum from 1 July 2022. This had been previously legislated and is not a measure introduced by the new Albanese Government.

This increase, together with the expected Award wage increase from the first full pay period from 1 July 2022, will add substantially to members’ wage costs. We note that the Albanese Government has asked the Fair Work Commission’s minimum wage panel to deliver the country’s lowest-paid workers a raise that “reflects” the current inflation rate of 5.1%. (see here for the submission)

NatRoad will provide to members details of the minimum and Award wage increases following the determination in late June 2022 by the Commission.