0 Morty Asked: July 10, 2019In: Economicswhat is superannuation?0I also posted this to r/Adulting and they referred me here. I’ve heard the term before and I’ve tried looking it up but I still don’t get it. I think I need a proper explanation.In: Economics ShareFacebook 2 AnswersVoted ToxiClay Added an answer on July 10, 2019 at 11:26 pm “Superannuation” can mean a couple of things. Going on the context of your other post, your employer giving you a superannuation means basically that you’ll be able to elect to contribute so much of your income to a tax-advantaged retirement/pension fund, and they will match your contribution up to a certain amount. Either or both of those are superannuation; your employer *giving* you superannuation implies the latter to me.The term I am more familiar with to refer to this is “401k matching” or “employer matching”; you can read about this concept [here](https://smartasset.com/retirement/how-does-401k-match-work), but I suggest you also speak to your HR department or more senior employees.0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsApp sootymay Added an answer on July 11, 2019 at 2:56 am A part of your income.gets sent to super so when you retire after youre 67 (Australia’s new retirement age) the government doesn’t have to pay you a pension.The super fund invests the money and earns extra (Or loses depending on the investment of course) and then after you retire you live off of the super rather than a government pension.It can be subsidised with a pension if you don’t have a certain amount of super.Usually a company pays super on top of your pay, it’s mandatory here in Australia for an employer to pay super. Basically it’s just a retirement fund.0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerLeave an answerCancel reply Attachment Select file Browse Featured image Select file Browse What is the capital of UK? ( London )Save my name, email, and website in this browser for the next time I comment.