What is Superannuation?


“If you want to save, put money into superannuation, you will never find a better savings vehicle.”

- Peter Costello


Questions & Answers


What is Super?

  Super is money earned over your lifetime and deferred until retirement.

Visit the ATO website for more information (opens in a new window)

Super

 

How does super work?

  When you start to work, your employer must pay to your chosen super fund a part of your salary or wages.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

How Super works

 

What is a Super fund?

  A Super fund is an organisation that invests your money into various things such as shares, property and managed funds to increase your retirement savings.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

Choosing a Superfund

 

What types of Super funds exist?

  There are many Super funds, so you can choose the most suitable for you.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

Types of Super funds

 

Superannuation calculator

  Can help you to understand how much super you will have in retirement.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

Superannuation Calculator

 

What is a super contribution?

  Super contributions:

  • employer contributions - employer pays money to your super fund;
  • personal contributions - you can contribute money to your super fund;
  • government co-contributions - help for low-income earners.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

The super contributions

 

What fees may super funds charge?

  Super funds may charge various fees to manage your account.

Visit the ASIC's MoneySmart website for more information (opens in a new window)

Super fees

 

Super & Tax

  Your Super can be taxed:

  • Tax on contributions;
  • Tax on benefits;
  • Tax on withdrawing super.

Visit the ATO website for more information (opens in a new window)

Super & Tax

 

Contact The Students' Club

 

 Did you find mistakes?

 Please feel free to relay your comments, suggestions or corrections, in case of omission or mistake.

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