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Superannuation in Australia, or "super", is a savings system for workplace pensions in retirement. It involves money earned by an employee being placed into an investment fund to be made legally available to members upon retirement. Employers make compulsory payments to these funds at a proportion of their employee's wages.
The terms "retirement plan" and "superannuation" tend to refer to a ... Although in 1919 the pension system was made compulsory and in 1931 an attempt was made to ...
As a consultant, FitzGerald was the architect of the compulsory superannuation scheme introduced by the Keating government in 1992. [8] Superannuation was later refined in response to FitzGerald's June 1993 publication National Savings: A Report to the Treasurer in which he identified the importance of national saving, and recommended ways in ...
Subsequent revenue acts in 1921 and 1926 added further, explicit benefits to contributions made to employees retirement plans (both defined contribution and benefit) spurring further growth. [ 12 ] The establishment of the Social Security system and numerous New Deal initiatives aimed at providing a safe net for elderly Americans caused an ...
A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies.
Superannuation in Australia – Private, and compulsory, individual retirement contribution system. Social Security – Public pensions Austria – Pensions in Austria
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The Third Labour Government had passed the New Zealand Superannuation Act 1974 requiring employees and employers to make matching compulsory contributions to a superannuation fund from 1 April 1975. This was to be administered by the Superannuation Board.