You might have heard about the Superannuation Guarantee, that’s the legal minimum employers are required to pay into our super account, has increased from 9.5% to 10.0% of our wage.
This is great news because the super guarantee has been frozen by the coalition government at 9.5% for the past seven years.
The super guarantee rate would have been 12.0% now if the coalition government hadn’t legislated to stop it from increasing as previously planned.
Many ASU members have enterprise agreements with superannuation entitlements greater than the super guarantee. So for these workers this increase won’t have the impact on their retirement savings that it should.
The ASU wants employers across Tasmania to pass on the increase in the super guarantee rate to all employees, regardless of the rate of employer super contribution they currently receive.
We have written to several employers where our members have a superannuation rate that is higher than the super guarantee, calling on them to increase the rate in line with the 0.5% increase to the super guarantee.
We believe employers should maintain the gap between the legislated minimum entitlement the rate that they have previously committed to pay.
We’ll let members in affected areas know about the response to our letters.