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Written & Narrated by Paige Estritori
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Superannuation

Superannuation in Australia
Superannuation advice and planning

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

Latest Superannuation News
Controversial Super Tax Cap: Navigating the Political Maze Controversial Super Tax Cap: Navigating the Political Maze
Tue, 21 May: Financial planners and advocates for self-managed superannuation funds (SMSFs) are gearing up for a challenging legislative battle as they strive to secure crucial amendments to the government's $3 million superannuation tax cap policy, with indexation being a key point of contention. - read more
Super Funds Stay Resilient with Yearly Gains Despite Rocky April Super Funds Stay Resilient with Yearly Gains Despite Rocky April
Mon, 20 May: Superannuation funds are on pace to conclude the financial year with an impressive 8% growth, even as they battled through a challenging April, according to fresh data from Chant West, a firm specializing in superannuation research and ratings. - read more
SMEs Grapple with Rising Super Contributions Amid Economic Pressure SMEs Grapple with Rising Super Contributions Amid Economic Pressure
Sat, 18 May: Small and medium enterprises (SMEs) in Australia are navigating choppy waters as the increasing superannuation guarantee exerts mounting pressure on their operations. The steady hike in required super contributions is being cited as a significant regulatory hurdle by nearly two-thirds of SMEs, challenging their financial stability and adaptability. - read more
Top Judges Warn of Legal Showdown Over Super Cap Top Judges Warn of Legal Showdown Over Super Cap
Thu, 09 May: In a formidable show of unity, the Chief Justices from Australia's Family and Federal Courts have issued an unprecedented caution to the Federal Treasury. With the government's controversial stance on the $3 million superannuation tax limit in their sights, Chief Justices Will Alstergren and Debra Mortimer have not only expressed dissent but also raised the specter of a Constitutional confrontation. - read more
Recent Superannuation Articles
Boost Your Retirement: Top Tips for Optimizing Your Superannuation Boost Your Retirement: Top Tips for Optimizing Your Superannuation
Embarking on the journey towards a fulfilling retirement begins with understanding the cornerstone of your financial future—superannuation. An essential tool for Australians, superannuation is not just a safety net but a proactive strategy to ensure comfort and stability in your later years. Recognizing its centrality in retirement planning equips you with the insight to harness its full potential. - read more
Understanding Self-Managed Super Funds: Is It Right for You? Understanding Self-Managed Super Funds: Is It Right for You?
Self-managed super funds (SMSFs) are private superannuation funds that you manage yourself, offering greater control over your retirement savings and investment choices. This DIY approach to pension savings has become increasingly favored by Australians who prefer hands-on involvement in their financial future. In this section, we'll explore what SMSFs are, their rising popularity, and why taking charge of your super could be a game-changing move for your golden years. - read more
From Super to Savings: Diversifying Your Retirement Portfolio the Australian Way From Super to Savings: Diversifying Your Retirement Portfolio the Australian Way
Preparing for retirement is a multifaceted process, requiring more than just saving a portion of your income. A successful retirement strategy leverages the power of diversification to ensure financial stability and growth over time. In this introductory section, we'll delve into the intricacies of retirement portfolio diversification and understand why it is essential for weathering the storms of economic volatility. - read more
Self-Managed Super Fund: Is It the Right Choice for Your Retirement? Self-Managed Super Fund: Is It the Right Choice for Your Retirement?
Self-Managed Super Funds (SMSFs) have emerged as a significant force in the Australian retirement landscape, giving individuals a way to take direct control of their superannuation investments. As a self-directed approach to retirement savings, SMSFs allow for a personalized investment strategy tailored to specific financial goals and circumstances. - read more

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Important: Financial Services Online is a referral service. We provide general information only and we do not offer financial advice. We refer all insurance, finance and other enquiries that are initialted on this and our associated websites to specialist advisers who are licensed in their respective fields. You should always seek professional advice before making important financial decisions.
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