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WHAT IS SUPERANNUATION (ALSO KNOWN AS SUPER)?

April 26, 2017known Superannuation

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WHAT IS SUPERANNUATION (ALSO KNOWN AS SUPER)?

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An employer is required by law to contribute an 8% superannuation payment on top of your wage into a superannuation fund. You don’t need to do anything, they will do it for you. If you work for many different employers, you may end up with lots of different super funds but you may combine them together into only one. You won’t have access to this money until you retire, at 65.