Requesting the SGC Superannuation Fund phone number is common amongst employees all over Australia.
It is actually difficult to find the SGC Superannuation Fund phone number.
It should actually state SG, rather than SGC. This is because SG (Superannuation Guarantee) refers to the mandatory employer contributions that must be made into an employees superannuation fund on behalf of their employees.
SGC on the other hand suggests a Superannuation Guarantee Charge, which is an additional charge against employees who do not pay mandatory SG payments into their employees’ accounts by the due date.
In any case, this is purely a technicality. More often than not, any reference to SGC on a payslip will simply mean regular mandatory SG contributions.
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SGC Superannuation Fund Phone Number
The reason that it is difficult to find the SGC Superannuation Fund phone number or contact details is because there is no such thing as the SGC Superannuation Fund.
When SGC is noted on a payslip or wages, it is showing the amount that has been contributed by an employer into the employee’s nominated superannuation fund as an SG payment.
SG contributions refer to the type of payment made by an employer; not to where the payment is being made.
Finding out where the SG contribution is being made to can be found by contacting the employer or payroll officer responsible for making the payment, as they will have all the relevant details on the superannuation fund receiving the SG payments.
There are hundreds of superannuation funds to choose from within Australia, including industry funds, corporate funds, retail funds or even self managed superannuation funds (SMSF).
I have developed a list of many of the superannuation funds available in Australia, including links to the phone numbers and other contact details for people who are unsure of where their superannuation funds are located. Click here to see the list.
Generally, it is best to contact the person or office making the SGC payments to determine where the contributions are being made to.
Once you know your super fund, you should be able to login to your account whenever you like.
For lost super or unclaimed super, a form can be submitted to the Australian Tax Office (ATO) here.
SGC Fund Details Pending
If a payslip or wage summary shows SGC Fund Details Pending, this will usually mean that the employee hasn’t yet notified their employer of the superannuation fund that they would like to have their superannuation guarantee (SG) contribution payments made into.
If this is the case, the employee should notify the employer as soon as possible with the relevant details. Generally, most employees will have a choice of the superannuation fund they would like contributions to be paid into. Click here for the ATO Standard Choice Form. This can be completed and provided to the employer.
SGC Super Rates
To ensure the correct Superannuation Guarantee (SG) rates are being paid, the table below details the percentage of wage that should be contributed into super. This is in addition to the pre-tax salary or wage.
|Financial Year||SG Super Rate|
For example, an individual earning $50,000 p.a. (plus super) should be receiving SG contributions into their superannuation fund of $4,750 per year ($1,187.50/qtr OR $395.83/mth).
There is a cap on the amount of SGC contributions required to be made for high-income earners.
As shown in the example above (and further examples here), the superannuation guarantee contribution calculation is a simple one. Multiplying a wage or salary by the SG Rate (currently 9.5%) will provide the answer.
This can be done by typing (your wage) x (current super rate)% on a calculator. Using the example above this would be 50000 x 9.5% on a calculator.
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Mandatory Employer Superannuation Guarantee Contributions are classified as Concessional Contributions. Therefore, Contributions Tax of 15% will be deducted from all SGC contributions upon entry to the superannuation fund. Read more about Concessional and Non-Concessional Contributions here.
SG Contributions also count towards the Concessional Contribution Cap in the year that the contribution is made.