ATO Tax Talk Superannuation: why super is important for your future

Australians were spending 3 billion dollars a year on insurances they may not all need, as part of their superannuation.

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Superannuation is money set aside over your working life to provide for your retirement. For most people, if you have a job your employer has to put at least 9.5 percent of your salary or wage into your super It doesn’t matter if you work full time, part time, casually or if you hold a temporary visa.


If you don’t think you’re being paid the right amount of super, check with your employer and your super fund. If your super isn’t being paid correctly, lodge an inquiry with the ATO and they will investigate.

Generally, you can only access your super when you reach retirement. There are very limited circumstances that allow you to get your super early. Beware of schemes that promote early access to your super - these may be illegal and severe penalties apply.

General super information is available in various languages at , or speak with the ATO team in your native language by phoning the Translating and Interpreting Service on 13 14 50 and ask to be connected to 13 10 20.



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