SG Age Limit to be Abolished

The Government has announced that the 70 year age limit for superannuation contributions required to be made by an employer under the Superannuation Guarantee (Administration) Act, 1992 will be abolished.  Currently, employers are not required to make any SG contributions in respect of employees once they attain age 70.  A Bill has already been introduced in November 2011 to increase that age from 70 to 75.  

The Government has subsequently decided to remove the age limit entirely.  The change will be implemented as an amendment to the current Bill.  This change will apply 1 July 2013.