1990s: The evolution of super

The end of the 80s saw another economic downturn rearing its head. The Bank, however, was still strong and the government aimed to make it stronger for Australians as a private financial institution.

In 1992, one of the biggest changes towards future financial savings took place, with the introduction of Superannuation Guarantee, or compulsory employer contributions of 3% of an employee’s salary. The fund evolved from its Defined Benefit history to include new accumulation-style super arrangements (and what is now Accumulate Plus).