what is superannuation?

Do you want to learn more about super? Relax… We’ve got your superannuation questions covered!

Superannuation is a long-term savings system designed to provide income for your retirement. When you start working, your employer assists in opening your super account and will pay/contribute a minimum of 9% of your salary to your super account, if you earn $450 or more per month.

Your super contributions are invested on your behalf by your super fund, and grow over time through investment returns and year on year compound returns. However, Government tax, your super fund’s administration fees, insurance premiums and any negative investment returns may be deducted from your super.

You cannot access your super until you reach your ‘preservation age’ (the age at which you can access your super or satisfy another condition of release, as set out by the Federal Government) or retire.

find out more in our members section