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In Australia, superannuation is a long-term savings plan to help you financially in retirement. You can start paying into your super from the day you start work. In most cases, your employer will pay money into your super account (called the Superannuation Guarantee). The money in your super account can’t be accessed until you reach what’s called your ‘preservation age’. When you reach preservation age (currently, between 56 and 60, depending on your date of Read more

When it comes to retirement planning, there are a lot of terms and concepts that can be confusing. In this series, we’ll help demystify some of the key terms you need to know. Rollover: This is when you move move your superannuation from one fund to another. This could be to cosolidate your super into the one account, or once you reach your preservation age, you choose to rollover your super into an account-based pension. Read more

Your super is there to help you live a comfortable retirement. The government guarantee (known as the Superannuation Guarantee) means that your employer must make regular contributions to your super account – currently, they must contribute 10.5% of your salary. You can also make your own contributions, and many people do. After all, the more you have in your super account, the more comfortable your retirement will be. But how much do you need? Well, Read more

Superannuation is a system in Australia that provides for retirement savings. The mainstay of the system is the Superannuation Guarantee (SG), which is the minimum amount that employers must contribute to their employees’ superannuation. However, employees can also make voluntary contributions to their super. The current Super Guarantee rate is 9.5% of salary. This rate is set to increase gradually over time, with the aim of eventually reaching 12%. The money in your super fund Read more