Superannuation and super funds in Australia

Let's explain super in simple terms: Superannuation is money that's put aside in an account for your retirement. It's generally made up of:

Payments from your employer
Money you put in a super account yourself
Any money your super investments earn

What is a super fund?

A super fund is a financial institution (kind of like a bank) that invests and looks after your super until you can access it. The government sets the rules for this.

What is superannuation?

Learn the basics of how superannuation works.

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How does super work?

Here are the basics of how super works in Australia.

Choose who looks after your super

You can usually pick any super fund you want, but it's a good idea to compare funds first.

Your employer pays you super

Your employer usually has to send a percentage of your pay to your super account. You can also add money as a contribution.

Your fund invests your money

Your super fund invests your money to help your balance grow. As a member, you can choose your investment options or let us decide for you.

Retire with your savings

You can generally take out your super when you turn 60 and retire, or leave your employment. Or from 65 even if you're still working.

Think about insurance, too

Superannuation insurance gives you a safety net for injury, illness, or death. It's not always automatic, so you may need to opt in or apply for cover.