I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

I'm New to My Job; Am I qualified for Superannuation Guarantee (SG)?

On the other hand, you should be an available worker to be eligible for super contributions funded by your employer (formally known as "Superannuation Guarantee"). If you're eligible, then your boss should pay the corresponding 9.5% of your income into your account for the financial year 2015/2016 (July 1, 2015, to June 30, 2016).

Different guidelines apply to employees under 18 years. If you are under 18, you should work no less than 30 hours per week, and be salaried at least $450 (concessional) monthly (calendar month) to be qualified for SG (Superannuation Guarantee). A calendar month is, let's say, the month of April or May, etc. instead of a 30-day period.

Any worker aged 18 or over should make at least $450 per month (concessional) to be eligible for the 9.5% contributions (for year 2015/2016). For workers aged 18 years or over, there's working a minimum number of hours is not required, unless the occupation relates to the labor of a domestic or private nature, for example, house cleaning or babysitting. In these individual local or individual circumstances, such a person is eligible for an SG if they have spent at least 30 hours every week at work and make $450 per month.

Furthermore, you can ask your employer regarding your SG privileges, if any.

What Happens To The Superannuation Contributions Of My Employer?

If you are qualified for SG, your employer should pay super contributions into a Superfund, at least, four times a year, and by definite deadlines.

In most instances, you'll have the right to select your super fund. If you are qualified for SG, and you are entitled to choose your superannuation fund, your employer should give you a Standard Choice Form to allow you to select a superannuation fund.

If you do not pick and choose, then your contributions are directly paid into a super fund chosen by your employer, and in some instances, paid into a super fund stated in an award or agreement. If you do not make a choice, then the Superfund your contributions will be settled into a MySuper product.

In the first case, you can check with your employer for the superfund's name where the super contributions of your employer are paid for you.

The Superfund should be a "complying" super fund, meaning the Superfund comply with particular superannuation rules and lodges yearly returns. The majority super funds should also be listed with the APRA (Australian Prudential Regulation Authority). To check if APRA lists a Superfund, use Super Fund Lookup.

More information on superannuation guarantee can be found on our site - www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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