Superannuation has been compulsory for all employees since 1992 at guaranteed minimum levels. It is important for everyone to understand their superannuation situation, wherever they are during their working life.
- Compulsory superannuation is called Superannuation Guarantee (SG) contributions. Over a working life of 40 years, SG contributions will provide you with just over half of your pre-retirement income.
- Added to SG contributions, employees can make voluntary contributions to improve their retirement income. Research suggests that we need about 65% of our pre-retirement income to maintain our current standard of living.
- It's important to ask, "Will I have enough?"