Settlement Guide: How does superannuation work?

Saving for the future

A glass jar full of Australian money Source: Getty Images

Taking a few steps now could make a big difference to your future finances and lifestyle


If you're hoping for a comfortable life in retirement, spend some time learning about your superannuation.

Personal superannuation, commonly known as ‘super’, is money that’s put aside and saved while you’re working. Australia’s super system looks similar to funding retirement in Western Europe.

However, one important difference is that contributions are not paid to the public purse but to almost 200 private insurers and superannuation funds.

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