What is superannuation?

Superannuation, or “super,” is a mandatory retirement savings system in Australia. It’s money that you earn now but can access later in life when you retire. MyGig ensures you’re contributing to super automatically as part of your work.

How it works with MyGig

• Contribution rate: MyGig contributes 12% of your gross pay to your super fund.
• Gross pay: This includes your base pay, casual loading, and any allowances.
• Frequency: Contributions are made quarterly in line with Australian law.
• Fund choice:
  • If you have an existing Australian super fund, you can provide your details during onboarding.
  • If you don’t, MyGig will set you up with our default Hostplus fund.

Why it matters

• Super contributions grow over time and are invested for your future.
• Even if you work casually or short-term, super builds a retirement nest egg.
• You don’t pay it yourself, it’s part of your total remuneration handled by MyGig.

Tracking your super

You can check your super contributions by logging into your super fund’s online portal. They must provides detailed statements and tools to track your account.

Need more information?

For more about how super works, your options, and how it grows over time, check out this article.