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Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement.It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement.
Superannuation in Australia is taxed by the Australian taxation system at three points: on contributions received by a superannuation fund, on investment income earned by the fund, and on benefits paid by the fund.
The Australian Retirement Trust was founded on 28 February 2022 following the merger between Sunsuper and QSuper. [4] It was the largest superannuation fund merger in Australian history. [4] On 30 April 2022, the Australia Post Superannuation Scheme (APSS) was merged into the Australian Retirement Trust. [5]
Private pensions (known as superannuation in Australia) may be taxed at up to three points, depending on the circumstances: at the point of contribution to a fund, on investment income and at the time benefits are received. The compulsory nature of Australian Superannuation means that it is sometimes regarded as being similar to social security ...
The Superannuation Complaints Tribunal was an Australian independent statutory body established by the Australian Government to deal with complaints about superannuation and certain life insurance annuities. [1] It was superseded in 2018 by the Australian Financial Complaints Authority (AFCA).
State Super is a superannuation fund in Australia that was established in New South Wales in 1919. It serves current and former government employees and public sector workers. As of June 2023, it manages close to $38 billion AUD in assets and has around 86,840 members.
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