What is superannuation?

Superannuation (or super) is a fund specifically designed to help you save and invest for your retirement.

It’s restricted as you generally can’t withdraw from super until you retire or reach your preservation age (that’s the intention, although there are special conditions of release).

And super funds are set up as trust funds. This means a trustee is appointed to manage the fund on behalf, and for the benefit, of its members.

Super receives special tax treatment compared to your other money. When it comes to investing over the long term, there aren’t many better tax-effective ways to save for your retirement.

Lower taxes and more investment options – such as local and international shares, property and fixed interest investments – offer your super more potential to grow.