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.
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.
Please note that some of our calculators may use assumptions that are not necessarily applicable to your current specific circumstances and we therefore cannot always guarantee their accuracy. You should always seek professional financial advice from a licensed professional before proceeding with any financial recommendations.
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Trend Shift in SMSF Management: Advisory Services on the Rise Tue, 19 Mar: The landscape of Self-Managed Superannuation Funds (SMSFs) is experiencing a significant shift, with the trend of independently managed funds on the decline. Expert insights from AUSIEX, a leading wholesale broker, reveal a growing preference for engaging financial advisors in the establishment of new SMSF accounts over the self-directed approach. - read more
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New Fiscal Challenges: Examining the Impact of Taxing Unrealized Gains Mon, 18 Mar: Concerns have been raised by the Self-Managed Super Fund (SMSF) Association regarding the government's stance on superannuation taxation, emphasizing the precarious nature of a move towards levying taxes on unrealized capital gains. The SMSF Association has voiced fears that this practice, currently under deliberation for superannuation with over $3 million in tax concessions, could expand to personal investments such as rental properties. - read more
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A Decade of MySuper: Analyzing the Impact on Australia’s Superannuation Landscape Fri, 15 Mar: A landmark review spanning a decade since the inception of MySuper offers insights into its real beneficiaries, suggesting a significant victory for regulatory bodies while providing members with the perk of declining fees. - read more
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In-Depth Study Challenges Super Withdrawal for Housing Scheme Wed, 13 Mar: In the realm of Australian economics, a contentious debate has risen surrounding the utilization of superannuation funds for procuring real estate deposits. The Super Members Council (SMC), a dominant industry consortium, has introduced a study whose findings cast doubt on propositions endorsed by certain Coalition lawmakers that advocate for this financial strategy. - read more
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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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Building a Resilient Super Fund: Tips for Weathering Economic Challenges Ahead As the global economy continues to navigate through complex challenges in 2023, the need for thoughtful financial planning has never been greater. From unforeseen economic twists to persistent inflationary pressures, individuals are faced with an adaptive landscape that demands resilience and foresight, especially when it pertains to managing superannuation funds. - read more
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Why Australia's Compulsory Superannuation System is Failing Superannuation in Australia has been a topic of hot debate for decades, with many experts questioning the current system's effectiveness. In a recent consultation paper released by the Albanese government, the objective for superannuation was stated as 'to preserve savings and deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way'. - read more
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Four out of ten face super shortfall FOUR out of 10 Australians reckon they won't have enough super savings to fund their retirement while a slim majority believe superannuation fund reports are far too complex to be of any use in planning for the future, a survey has found. - read more
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