When you become an employee for the first time (whether it’s a part-time, casual or full-time position), you may be eligible for superannuation (super) payments by your employer.
What is super?
Super is a way of helping you save for your retirement. By saving small amounts of money from now, you can make sure you have enough to live on when you are older.
Why do I need super?
Super is a good way to save for a number of reasons:
- you can save a little bit at a time over a long period it is a long-term investment.
- Super funds combine everyone’s small amounts into a large pool, so they often get better investment rates super is taxed at a lower rate than most other investments or salary.