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Superannuation
Superannuation is a means of investing toward retirement.
Employers and employees can both contribute to superannuation in Australia ... and contributions are typically invested in the stock market, bonds, real estate, or other approved investment vehicles.
The money invested is subsequently paid to the member (or to the members' beneficiaries) on retirement, disability or death of the member either as a lump sum or as a pension or both.
Superannuation Guarantee
The Superannuation Guarantee came into effect in 1992, requiring an employer to contribute toward an employee's retirement through superannuation.
The Superannuation Guarantee (Administration) Act 1993 prescribed the employer contributions as a percentage of it's staff wages.
Employers are not required to contribute in some circumstances, e.g. for very low income earners, young workers not working full-time and workers over 70 years of age.
Employers may choose to contribute a higher amount than that prescribed as a means of employee incentive or reward or as part of a salary package.
There are some limitations on the tax deductibility of employer contributions for a given member and, therefore, professional advice should be sought before entering into these arrangements.
There are significant benefits in members saving toward their own future and Superannuation fund members may consider making contributions to superannuation in addition to employer contributions.
Individuals considering making personal superannuation contributions should seek professional advice.
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Financial News & Information
| Disparities in Apra Levy Impact Smaller Super Funds Mon, 05 May: Smaller superannuation funds face potential disadvantage due to the upcoming changes to the APRA levy, according to leading accounting bodies in Australia. These changes, outlined for the Financial Institutions Levies for the financial year 2025–26, indicate a significant reduction in charges for larger funds, while smaller funds continue to incur higher proportional costs. - read more
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| Aware Super Commences International Search for New CIO Sun, 04 May: Aware Super has unveiled its succession strategy as Chief Investment Officer (CIO) Damian Graham prepares to step down. The organization, Australia's third largest super fund, aims to appoint a new CIO by the end of this year. - read more
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| Cbus Unveils New CIO and Targets 50% In-House Investment Management Thu, 01 May: In a significant strategic shift, Cbus, one of Australia's prominent construction industry funds, has announced a leadership change with the appointment of Leigh Gavin as the new Chief Investment Officer (CIO). This decision accompanies the fund's ambitious goal to increase its in-house investment management to 50% over the next three years. - read more
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| Corporate Outcry Over Proposed $3M Super Tax Wed, 30 Apr: Recently, prominent figures in the Australian finance sector have voiced strong opposition to a proposed tax on unrealised capital gains for superannuation balances exceeding $3 million. Business leaders such as Geoff Wilson AO of Wilson Asset Management, former QSuper chair Karl Morris, CSL chairman Brian McNamee, and Andrew Pridham, CEO of Moelis, have criticised the proposal under Division 296, labelling it as a flawed strategy. - read more
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| Self-Managed Super Funds vs. Industry Funds: Which Is Right for You? Superannuation, often referred to as 'super', is a cornerstone of financial planning for retirement in Australia. It is a mandatory savings system designed to ensure that Australians accumulate sufficient funds to support themselves in retirement, reducing their reliance on government pensions. - read more
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| The Ultimate Guide to Understanding Superannuation: What Every Australian Should Know Superannuation, often referred to simply as 'super', is a critical component of the financial landscape in Australia. It is a system where money is placed in a fund during your working life to support you in retirement. The Australian government mandates super contributions to help ensure that citizens can look forward to a stable and comfortable retirement. - read more
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| Retirement Planning 101: Secure Your Future Now Retirement planning might seem like a daunting task, but it's a crucial step to securing your future. Many Australians find themselves wondering if they're doing enough to prepare for their retirement. Whether you're just starting your career, or nearing retirement age, taking the time to understand and plan for your future financial needs can make all the difference. - read more
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| Breaking Down Superannuation: How to Make It Work for You Superannuation, or 'super', is a form of long-term saving specifically aimed at helping Australians accumulate funds for retirement. It operates through a mandatory system where employers contribute a percentage of an employee's earnings into a superannuation fund. This system ensures individuals have a financial reserve to support them throughout their retirement years, lessening the reliance on government pensions. - read more
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