What is superannuation? How does it benefit you?

If you are currently employed in Australia, your employer should be paying a proportion of every wage you receive into a superannuation fund. This may seem like another tax on your earnings, but it isn't. So what is the purpose of super, and how does it benefit you?

Grey Nomads of the land Source: AAP

Superannuation is a long-term savings plan designed to provide an income after retirement from paid work.