Time to read : 5 Minutes
There’s something special about wanting to start a new year on a fresh note. And one of the best ways to keep those feelings lingering is with a new job. You know: new year; new job.
While salary can be a big motivator when looking at job opportunities, getting the income you want can at times boil down to how you negotiate.
So, how else could you get more money from a new job opportunity?
Well I’ll let you in on a little-known fact. Some employers are more generous when it comes to paying super. They may automatically… and enticingly pay super at a higher rate.
And that could be life-changing.
How to know and check the super you are being paid
First up, before levelling up and getting into higher super rates, let’s look at your minimum entitlement.
Australian employers must pay at least 11.5% of their employees' ordinary time earnings into their super fund.
It’s known as the superannuation guarantee and it’s set to increase again – and stay – at a 12% from July 1, 2025.
Employers must pay super at least four times a year. That needs to be done on the below schedule or they face big fines.
SG quarter 2024-25 | Cut-off date for SG contributions |
1 July – 30 September | 28 October |
1 October – 31 December | 28 January |
1 January – 31 March | 28 April |
1 April – 30 June | 28 July |
Source: ATO
Note: the government has proposed legislation that would require employers to pay super at the same time wages are paid, from July 1, 2026. This is often referred to as ‘payday super’.
When employers don’t have to pay super
Now, there are also some award or employment agreements that specify a higher super rate – so it’s worth checking that.
If it’s written in, it must be paid.
But… there’s a caveat on all this talk of extra super: legislated maximums.
Employers don't have to pay super on your earnings above a certain limit. Known as the maximum contribution base the amount is indexed annually and is $65,070 per quarter for the 2024–25 financial year.
What about the pre-tax contribution?
There is also a maximum pre-tax contribution you can receive to super each year: $30,000 this year (2024/2025). This is adjusted each year based on average weekly ordinary time earnings.
Note: this amount also includes any pre-tax – what are known as concessional contributions – that you make yourself. And there are big tax penalties if you go over this, so keep a watch.
Also know a silly little rule: an employer does not have to make any of these so-called ’salary sacrifice’ contributions on the above payment schedule.
Who qualifies for super?
Any worker over 18 years of age, or any worker who is under 18 years and works over 30 hours a week must be paid super.
When it comes to mandated employer contributions, there is no maximum age limit.
But – in another restriction – over the age of 75, no additional employer contributions can be accepted by super funds (just mandated ones under the super guarantee or an industry award or certified enterprise agreement).
So, bear that in mind too if that’s a big drawcard of your job.
Now, let’s get to the good super stuff… the companies paying extra super to reward and retain their employees.
The employers that pay their staff a higher super rate
Here is a selection of organisations and government departments which generally pay higher rates of super.
Large corporations that pay extra:
Commonwealth Bank 12% - 15%
Westpac 12% - 13.5%
ANZ 12% - 14%
Healthscope 12.5% - 15%
The public sector is well known for its super perks:
Australian Federal Government, for eg Department of Health and Aged Care 15.4%
State Government Departments (eg Qld, Vic, NSW) Superannuation Contributions vary between 12% - 15.4%
Local Government Typically 12% - 15%
Australian Defence Force 16.4%
Some not-for-profit organisations that reward their staff additionally:
The Smith Family 12% - 14%
Oxfam Australia 12% - 13%
Often universities pay more, for example:
Australian National University (ANU) 16.2% if you are already a member of the Commonwealth Superannuation Scheme. If you’re a member of the Public Sector Superannuation scheme you can get 16.8%
University of Adelaide up to 17%
Keep in mind that specific conditions can vary and refer directly to each company’s official website or relevant job postings for the specifics.
You may also find – or be able to request – that a prospective employer matches any additional contributions that you make, with an equal top up from them.
And there are some employers that actually pay extra to women.
Though this sounds discriminatory, Rice Warner Actuaries received approval from the Human Rights Commission in 2013 allowing this. It ensures equal income for all across their lifespans, compensating for the fact women’s life expectancy is longer.
The company pays its female staff 2% extra super.
What about companies that keep your super increase?
A word of warning about a super ‘policy’ some employers follow: with super still on the way up to that 12% final rate, the SMH has reported that more than a quarter of Australia’s top 20 listed companies are not funding the increase themselves, but are instead deducting it from take-home pay.
“ANZ, Wesfarmers, Macquarie Group, Telstra, Goodman Group and Transurban are among the biggest companies relying on clauses that specify “total remuneration package” or “total package value” or “remuneration inclusive of superannuation” to avoid forking out an extra 0.5% in superannuation to workers on individual agreements,” the SMH reports.
“For the 40% of Australian workers on individual agreements, it will depend on the wording of the contract and the discretion of their employer.”
It's legal but it’s cynical.
Be aware: if you are considering taking a job with such a company, your pay could take a hit for the last 0.5% increase on July 1, 2025.
Bottom line
It’s not just about salary when it comes to choosing who to work for; so if you’re looking for a new job a higher rate of super could change your life.
How much? Just an extra 3% before-tax contribution on a salary of $100,000 from age 30 would see you with $154,195 extra at retirement. Your end balance would be boosted from $722,677 if you just received the minimum 11.5% (going up to 12% next year) to a hugely better $876,872.
It’s well worth prioritising employers that reward their staff with more super. Future – wealthier – you will be grateful indeed.
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