Superannuation is a compulsory government scheme to help you save for retirement. Your employer makes contributions and you can contribute to it yourself if you like. This money is then invested on your behalf by your super fund.

One of the benefits of super is that it is designed to be a tax-effective way to save for your retirement, with contributions and investment earnings in your super fund typically taxed at a lower rate than your normal earnings. Super is saved for your retirement and can be accessed when a condition of release is filled.