Super, short for superannuation, is the term used to describe the industry that manages retirement savings. It works like this...

You put away a percentage of your salary throughout your working years and once you reach retirement, you draw down this money as you would a salary, to make up for the loss of income.

The Government Pension is minimal and not really enough to rely on, so by saving a portion of your income while you work, you can continue the same standard of living when you’re no longer doing the hard yards.

Saving a solid amount in super means you can maintain the same level of luxury into your retirement, when you really have the time to enjoy life! What’s not to like?

Even more of a reason to pay attention is the concessionary tax treatment associated with steering investments toward your super account. Contributions into super are taxed at only 15% making super not only a compulsory, but also a worthwhile investment.

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