Superannuation for teachers and education workers11 Oct 2021 4 min read
Working in education is both rewarding and challenging. Whether you’re a teacher, or work in management or support, young Australians depend on your passion and commitment to help shape their futures. While focusing on your work is important, shaping your own future matters too. Making sure you get the most from your super now can help ensure that when your work stops, you live the retirement you deserve.
You have a range of options for superannuation and how you maximise your retirement savings. This article covers superannuation for teachers and education workers so you can make informed decisions for your financial future.
Are you with a default fund?
If you started your job before 1 November 2021 and didn't provide your super fund details to your employer, it's likely they're paying your super contributions to their default fund.
From 1 November 2021, rules around default funds changed: if you start a job on or after this date and don't give your employer your super details, they'll have to search for your stapled fund with the ATO. If you don't have a stapled fund, your employer will pay your super contributions to their default fund.
You’re free to switch from your school’s default fund to another compliant super fund any time you want. Other funds may have features and benefits — like insurance or fund sustainability policies — or investment options that fit better for you.
You can use the superannuation standard choice form from the ATO to nominate a different super fund. If you’re starting a new job at another school, your employer should provide this form. It’s a good idea to check that your new employer has your preferred super details on file, just in case. If you discover you have multiple super accounts in your name, it means you're paying multiple fees and you should consider consolidating your super. If you’re unsure whether you have multiple super accounts, we can help you find your lost super.
Superannuation funds for non-government schools
If you’re working in a non-government school, you might prefer a super fund with a focus on your sector. NGS Super is the largest Industry SuperFund for non-government schools, with roots in the Independent Education Union of Australia (IEU).
NGS was first established in 1988 as an industry fund for teachers in independent education. Back then, ‘NGS’ stood for ‘non-government schools’ — now, we’ve built strength and confidence in our brand as NGS Super, and we offer our benefits to all Australians.
After more than 30 years of involvement in the education industry, we’re proud to maintain and develop our understanding of the unique circumstances and needs of teachers. We’ve built strong connections with schools across Australia, with our Customer Relationship Managers providing on-site and virtual super support to employers and their staff. We also hold several seminars and webinars throughout the year for our members and their families, empowering them with finance education to help make sense of their goals and set up their future.
NGS works closely with a range of industry partners, such as:
- Association of School Business Administrators (ASBA)
- Independent Primary School Heads of Australia (IPSHA)
- Association of Heads of Independent Schools of Australia (AHISA).
We also host the NGS Super Scholarship Awards to recognise fund members with a passion for education. Each year, 6 winners receive $5,000 scholarships to help them maximise their contribution to the sector and foster their professional development.
Learn more about our community.
Frequently asked questions
How much superannuation do teachers get paid?
Teachers are entitled to the same super guarantee as all Australians. The super guarantee means your employer must pay at least 10% of your ordinary time earnings (OTE) into your super account.
Find out if your employer makes superannuation guarantee contributions by:
- looking at your payslip
- logging into myGov
- checking with your super fund.
Do casual teachers get superannuation?
Yes, the same rules that apply to super for casual and part-time workers apply to casual teachers. If you make at least $450 in a month, your employer must pay superannuation guarantee contributions to your nominated fund (or, from 1 November 2021, your stapled fund where you haven’t nominated a fund yourself).
What is the best superannuation fund for teachers?
The needs and circumstances of teachers across different schools throughout Australia make it difficult to place one superannuation fund above all others. In 2019, quantitative analysis by FE Super Review identified NGS as their first choice based on investment allocations (learn more about our investment options). However, there are many other factors to consider when deciding which super fund is right for you, including insurance benefits, fees and service. You can use online tools to compare super funds and read more at Why choose NGS Super.