About Superannuation
Can funds be taken out at any time?
No
Why do fair fees matter?
High fees can eat into your retirement savings
Who is eligible for a superfund?
Everyone that works.
What is superannuation?
Retirement fund
Why does the company's security matter?
To prevent fraud and misuse.
Who controls superannuation in Australia?
The Australian government. (ASICS, an independent Australian government body)
What is the superfund suitable for people with significant savings and investing knowledge called.
Self-Managed Superfund (SMSF).
Why should the company be responsible?
So you don't put your money and trust in a company that doesn't follow the laws.
Who puts the money into your superfund?
Your employer.
Can you have more than one superfund account?
Yes. The Australian Taxation Office (ATO) says that around 4 million Australians have 2 or more super accounts.
What opportunities are there for misuse?
ID theft
Who are allowed to take money out under certain conditions?
When someone is in severe financial hardship.