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SUPERANNUATION
Superannuation contributions paid to employees by their employer at a level that exceeds the minimum compulsory contributions This is a component of employee income and has been available since 2003–04. The relevant person level data item is:
From 1 July 2002 to 30 June 2013, the superannuation guarantee rate was 9%, which then rose to 9.25% for the 2013–14 financial year, then to 9.5% as of 1 July 2014 and then remained at 9.5% as of 1 July 2015. However some individual workplace agreements or enterprise bargaining agreements provide for employer superannuation contributions that exceed these rates. Respondents may therefore interpret this question in different ways. Regular income from superannuation, annuities or private pensions This is a component of 'Other income' and is available for current income financial year income. It has been collected in all previous cycles of the SIH and its precursors. The relevant person level data items is:
This is the only retirement income from superannuation, annuities and private pensions that contributes to estimates of current and previous financial year household and personal income. Irregular lump sum withdrawals are not included in this measure of income. SUPERANNUATION FUNDS Balance in superannuation funds This is a component of financial assets and has been available since 2003–04 in every SIH except for 2007–08, when wealth data was not collected. The relevant person level data item is:
Respondents were encouraged to refer to their last superannuation statement for fund balances. Superannuation accounts From 2013–14, information is available about the individual superannuation accounts people held. The complete list of data items for 2017–18 SIH are available from the 'Downloads' tab of this publication as an Excel spreadsheet, and super account items can be found under the 'Superannuation accounts' section on the 'Person' level. The different types of information are:
The 'Superannuation' analysis level is available for the 2013–14, 2015–16 and 2017–18 SIH outputs to provide similar data about individual superannuation accounts. This data can only be analysed as a paid customised data request. Type of pension or annuity For each superannuation account where current regular income is received, the type of account is collected. The different types of accounts are:
'Other account type' descriptions provided by respondents were recoded where possible to the appropriate pension or annuity type. This method was improved for 2015–16 SIH and repeated for 2017–18, reducing the overall instances of 'Other account type'. Therefore type of pension or annuity is not directly comparable to 2013–14 SIH estimates. Lump sum superannuation payments Value of lump sum superannuation payments The value of lump sum superannuation payments received in the last two years that were in total worth $500 or more, has been collected since 2003–04. It enables analysis of how people are using their superannuation funds other than as a source of regular income. These payments do not contribute to current weekly estimates of personal or household income. The relevant person level data item is:
Use of lump sum superannuation payments The uses, and main use, of lump sum superannuation payments (received over the last two years) including re-investment into other assets, debt reduction and consumption expenditure is available in 2013–14, 2015–16 and 2017–18. The complete list of data items for 2017–18 SIH are available from the 'downloads' tab of this publication as an Excel spreadsheet, and super lump sum items can be found under the 'Superannuation lump sum receipts' section on the 'Person' level. Use of lump sum superannuation payments will not be collected in the 2019–20 SIH. Document Selection These documents will be presented in a new window.
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