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There are a number of different types of funds. Super funds fall into two broad categories:
All profits to members’ funds, for example industry funds; and
For profit funds, for example retail funds run by banks.
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NATSEM, an economic think-tank, has concluded that compulsory superannuation is the single most important factor in the mitigation of wealth inequality in Australia.
Universal and compulsory super – where every worker has the right to
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You know that you can generally only access your super when you reach preservation age and permanently retire from the workforce.
Superannuation is intended to help make life more comfortable in retirement and therefore you can typically
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Twenty years ago unions won super as a right for all Australian workers and set up industry super funds to look after the retirement savings of their members. Since then, industry super funds have gone from strength to strength whilest
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Super contributions are calculated on 9% of ordinary time earnings (OTE).
The definition of OTE is found in subsection 61(1) of the Superannuation Guarantee (Administration) Act 1992. It includes all payment for work done in ordinary
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With all investments there is a relationship between the return received and the risk taken to achieve it. If an investment carries a higher risk it should have the potential to compensate with a higher return over the long term. However, it
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If you have a dispute with your super fund you should first ask them for a Financial Services Guide (FSG). This is required to contain information about the internal and external dispute resolution procedures. Steps to resolving a complaint:
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In July 1992, the superannuation guarantee (SG) of 3% was introduced by the Keating Labor Government. Between 1992 and 2002 the SG increased from 3% to 9%. The SG is a compulsory employer contribution made into an employee’s super
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