this post was submitted on 25 Mar 2024
64 points (95.7% liked)

Australia

3647 readers
182 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @[email protected] and @[email protected]

founded 2 years ago
MODERATORS
 

Research by the Association of Superannuation Funds of Australia casts doubt on the Coalition’s plan

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 9 points 8 months ago* (last edited 8 months ago) (1 children)

@ramble81 @BrikoX In Australia, if you work full time, your employer is required to deposit 11% of your income into a retirement savings account, known as a superannuation (or "super") account.

Most people use a member-owned industry super fund, but you can also opt for a super account from a for-profit private financial institution (but the fees can tend to be higher).

In most cases, you can access the money in your super account once you turn 65 (but there are some conditions where you can get early access).

The Australian government also offers a (government provided) aged pension, but it's quite low.

[–] [email protected] 2 points 8 months ago

You can access super at 60