What is superannuation?

by

Superhero Team

May 26th 2021 3 minute read

Superannuation is an important mechanism for long term saving for retirement.

If you are age 18 and over and earn more than $450 a month (or under 18 and working more than 30 hours per week), your employer is required by law to pay Superannuation Guarantee (SG) contributions (currently 9.5% of your salary) into your super fund.