What is superannuation?
Superannuation also known as super, is a compulsory savings program to make sure that when you reach retirement age, you have some money to live on. Your employer must make compulsory contributions into your super fund, this being 9% minimum of your gross income. You can also make voluntary contributions to your super. The government has schemes to promote the thought of saving more for retirement.
The super savings that you have amassed will then be used to provide income streams through your retirement. It is important to take your superannuation seriously, there are hundreds of funds in the market, some are performing well whilst others are doing poorly. It is our job as financial advisers to make you aware and make recommendations based on our assessment on your investment capabilities which fund best suits you.