AustralianSuper
Learn about super in Australia
Australia has one of the world’s best super systems. It was founded on three ideas:
1. Everyone has the right to receive super
2. They should contribute to their super regularly
3. Their super should be saved until retirement
Super works as a supplement to the Government Age Pension, by helping Australians save enough to live comfortably when they retire. As of 1 July this year, employers must contribute 12% of employees’ salary to super.
Besides helping individuals, the super system contributes to Australia’s economy because super funds invest in infrastructure, housing, renewables and businesses. Our population is aging and we’re living longer and healthier lives. This means the super system must continue to play a vital part in supporting retirees and while aiming that younger generations aren’t burdened with higher taxes to fund the Age Pension.
