BlandsLaw - Blog posts from Annual Minimum Wage Decision
Please select your page
  • Twitter
  • Facebook
  • Google+
  • LinkedIn

Upward pressure on employment costs – Superannuation rate and FWC wage increases from July 1

 Upward pressure on employment costs – Superannuation rate and FWC wage increases from July 1

The Fair Work Commission has released its 2021 Annual Minimum Wage Decision, awarding a 2.5% increase to the national minimum wage and award-reliant employees. This wage increase will be introduced in stages through the course of the 2021-22 financial year.

At the same time – on 1 July - the superannuation guarantee rate will increase from 9.5% to 10%.

The FWC decision increases the national minimum wage to $772.60 per week – or $20.33 an hour. This constitutes an increase of $18.80 a week or 49 cents an hour.  All award rates of pay will increase by 2.5% with three operative dates which have been selected based on the recovery of different industry sectors from impacts of the COVID-19 pandemic.

The increase is less than the 3.5% sought by the ACTU but is significantly above the submissions made by employer groups calling for either a wage freeze or increases in line with the CPI.

Read more

The Fair Work Commission has released its 2016 Annual Minimum Wage Decision, awarding a 2.4% increase to Award-reliant employees.

The FWC decision increases the national minimum wage to $672.70 per week, or $17.70 per hour. This constitutes an increase of $15.80 per week or 41 cents per hour being the equivalent of a 2.4% minimum wage increase. All award rates of pay will increase by 2.4% with effect from the first pay period commencing on or after 1 July 2016. Weekly wages should be rounded to the nearest 10 cents.

The FWC panel pointed to historically low levels of inflation and wages growth as factors in the modest increase in the minimum wage, and stated that this increase was unlikely to have a negative impact on employment.

Who is affected?

Read more

More Articles