Coming Up Wed 4:00 PM  AEDT
Coming Up Live in 
Live
Gujarati radio
SBS GUJARATI

Australia's superannuation system explained

About a quarter of all super account holders in Australia end up with multiple super funds, paying unnecessary fees and premiums. Source: Getty Images

Superannuation is a mandatory savings scheme designed to help Australians save money that they can access in retirement. However, experts warn that migrant workers who do not pay attention to their super may be losing their savings to unnecessary fees and charges.

Highlights

  • Superannuation guarantee is rising from 9.5 per cent to 10 per cent from July 2021. 
  • A quarter of all employees in Australia end up with multiple super funds, which could significantly reduce their retirement savings.
  • From July 2021, existing accounts will be attached to employees and those will carry over with an individual when they change jobs.

Here's how to follow SBS Gujarati on our other digital and social media platforms.

Coming up next

# TITLE RELEASED TIME MORE
Australia's superannuation system explained 07/07/2021 08:27 ...
SBS Gujarati News Bulletin 7 December 2021 07/12/2021 04:46 ...
SBS Gujarati News Bulletin 6 December 2021 06/12/2021 04:59 ...
SBS Gujarati News Bulletin 3 December 2021 03/12/2021 05:44 ...
SBS Gujarati News Bulletin 2 December 2021 02/12/2021 05:08 ...
SBS Gujarati News Bulletin 1 December 2021 01/12/2021 05:47 ...
SBS Gujarati News Bulletin 30 November 2021 30/11/2021 04:56 ...
SBS Gujarati News Bulletin 29 November 2021 29/11/2021 04:57 ...
SBS Gujarati News Bulletin 26 November 2021 26/11/2021 05:38 ...
SBS Gujarati News Bulletin 25 November 2021 25/11/2021 05:37 ...
View More