Superannuation

Superannuation, or Super as most of us call it is a way of saving money for when you retire, if you get sick or injured and can no longer work, or for your family if something happens to you.

Most people start saving super when they start work, and your employer starts paying it for you. Your boss must pay super for you if you are eligible. To be eligible you have to be between 18 and 70, and you have to earn @least $450 in a calander month.

If you are under 18 but work more than 30 hours a week, you’re eligible too.

When you’re eligible for Super, your boss must ay a minimum of 9% of your earnings of ordinary hours of work into your super account.

To learn heaps more about Super, log on to http://ato.gov.au/individuals/pathway.asp?pc=001/002/064