The SG program applies only to employees (i.e., self-employed persons are not covered).
Virtually all employees in Australia are covered. Employers must contribute an amount
equal to a minimum percentage (currently 9%) of an employee's wages to retirement
funds chosen by the individual employees and run by banks, insurance companies, and
other financial institutions. The funds are subject to Australian laws and government
regulation. There are no mandatory employee contributions but employees can contribute
additional amounts on a voluntary basis.