What is Superannuation? It’s money put aside and saved whilst you work so that you can enjoy a regular income when you have retired. The money comes from contributions made into your super fund by your employer. You make investment choices in your managed fund that help grow your nest egg to live off. It is compulsory for employers to make superannuation contributions for their employees in addition to wages and salaries. You may also make your own contributions or contributions on behalf of your spouse.
The percentage of employer contributions currently sits at 9.5% and has since 1 July 2014. This will gradually increase to 12% by 2025.| | | Next → |