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Home Page > Services Offered > Superannuation Solutions > Are Employer Contributions Enough?

Are Employer Contributions Enough?

The Superannuation Guarantee requires employers to contribute nine per cent (rate effective from 1 July 2002) of their employees salary to superannuation.

However, the simple reality is that your employer’s superannuation contributions alone may not provide you with a comfortable retirement. Many financial strategists suggest that at least 20 per cent of your salary should be going into superannuation savings, if you want to maintain your lifestyle in retirement.

Other developed countries such as Canada, Italy, Portugal, Spain and Singapore require that double the level of Australia’s compulsory superannuation contribution level be directed into superannuation savings for this reason.

 

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Charter Financial Planning Limited ABN 35 002 976 294 AFS License No. 234665
Registered Office: AXA Australia Centre, 750 Collins Street, Melbourne, Vic 3008
As at 30th March 2011, AXA Asia Pacific Holdings Limited and all of its Australian and
New Zealand subsidiaries ceased to be members of the Global AXA Group and became members of the AMP Group.