Employer Sponsored Superannuation Education Helps Business Owners Meet Organisational Goals
Written on the 11 February 2014
Most Aussie business owners know the Australian government requires employers to pay what they call the “superannuation guarantee”, which means all employers must set aside a contribution to their employees’ superannuation fund (superfund) that amounts currently to 9% of the employees’ salaries. However, not everyone knows employers are not required by law to pay any contributions to the superfund of employees who earn less than $450 per month, fall under the age of 18 or are more than 70 years old.
Steve Culpitt, Financial Planner and Administrator of Arrow Focus on Wealth says, “It is important that companies choose a Superannuation advisor who has the capacity to deliver a broad range of services that are flexible, so as to align with and support the vision Business Owners/Managers have created for their business, which of course includes the needs of the employees.”
Steve explains, “Workplace arrangements with employees such as existing benefits, incentives, and loyalty are very important, that’s why businesses should educate their employees on the benefits they are receiving by working there. This is where Corporate Superannuation assists.”
Arrow offers Business Project Management services that allow business clients to grow and focus on their core business activities by:
Arrow offer employers the chance to provide education from an independent third party to their employees in the areas of super funds and added benefits being provided by the workplace. Arrow is able to convey these benefits in a way that motivates employees to become more involved in their employer’s business and really understand the support that is on offer within the workplace.
Steve has found that education boosts employees’ morale and productivity, which reduces employer’s costs and paves the way for a more professional approach to employee benefits. Steve adds, “The education and advice that we provide is a genuine benefit provided by the employer to the employee. A good super plan can attract and retain key staff and in turn increase their engagement to the business by being part of their own super and financial life plans.”
Arrow also provides expert advice on Life Insurance, Accident Insurance, Sickness Insurance, Disability Insurance, Trauma Insurance, Permanent & Total Disability Insurance, Superannuation and strategies tailored to individuals for their Wealth Creation goals and lifestyle needs.
This material is not intended to constitute personal advice and must not be relied upon as such. This material is of a general nature only and has been prepared without taking into account your individual objectives, financial situation or needs. You should consider the appropriateness of this material having regard to your objectives, financial situation and needs and consider obtaining independent advice from a licensed financial adviser