The Superannuation Guarantee (SG) is a compulsory system in Australia requiring employers to contribute a percentage (currently 11%) of an employee's earnings to their chosen super fund.
For example, if an employee earns $70,000 annually, the employer is required to contribute $7,700 to their super fund as part of this guarantee.
The SG ensures that employees save adequately for retirement and helps promote financial security in later years.
