What is Super and what does it mean to me?

Superannuation is a tax-effective means of saving for retirement by putting aside and investing money during your working life.
An employer and / or employee usually make superannuation contributions into a superannuation fund that is regulated by legislation. As of 1 July 2002, the minimum contribution level is 9% of your salary. This contribution is known as the 'Superannuation Guarantee (SG)'.

Superannuation savings are pooled together and invested in different sectors (e.g. property, cash, fixed interest, equities, etc.) You may be able to determine your exposure to each of these sectors.

Superannuation can:

• help provide you with a financially comfortable and secure retirement
• assist you with long term savings
• allow you to take advantage of favourable tax treatment of superannuation contributions and benefits
• allow you to take advantage of insurance offered through your plan