Changes to superannuation in July 2022

On 1 July 2022, various changes to superannuation will come into effect that could benefit many Energy Super members.

  • Superannuation Guarantee (SG) contribution rate to be increased to 10.5%.
  • First Home Super Saver scheme’s maximum withdrawal to be increased to $50,000.
  • Work test for retirees aged 67 and 74 years to be abolished.
  • Eligibility age for downsizer contributions to be lowered to 60 years.
  • $450 monthly income threshold for super contributions to be removed.

Energy Super has explained each of these changes and what they could mean for you. Visit their website

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