15 Jun How super works
Super is a way of saving for retirement. Your employer must pay a percentage of your earnings into your super account, and your super fund invests the money until you retire.
There are lots of different super funds out there, and different types of accounts. Find out how to compare super funds, find your lost super, and consolidate funds into one.
Look after your super
Your super is your money. Look after it by:
choosing an account with lower fees
comparing your fund’s performance with others
combining accounts if you have more than one
checking your insurance before you change funds
knowing what’s involved before deciding whether to choose an SMSF
being wary of anyone offering to withdraw your super early
Watch: What is super?
If you would like to learn more about looking after your super, call us on today.
Reproduced with the permission of ASIC’s MoneySmart Team. This article was originally published at https://moneysmart.gov.au/how-super-works
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