Why super?

Superannuation is one way people can save for retirement. For many Australians, superannuation may grow to be their largest asset. So it is important to understand why the superannuation system exists and how members can take control of their superannuation savings.

Why people are in super

Australia's population is ageing. This means that, over time, there will be fewer working people compared with the number of retired people.  Therefore, there will be fewer people paying taxes to support the Government's age pension. 

The level of retirement savings will need to be increased.  To help achieve this, the Federal Government introduced compulsory superannuation for most Australian employees. Generally, employers are required to pay 9% of an employee's salary into superannuation.

Superannuation as a good investment

Tax effective
To encourage more savings into superannuation, the Federal Government has made superannuation a tax effective investment.

See the fact sheet Super taxes, caps, payments, thresholds and rebates.

Competitive investment performance
Superannuation can provide you with good returns on your investment.

See First State Super's investment performance and see how this performance compares

When super can be paid
While there are some exceptions (PDF 374kb), superannuation cannot generally be paid to you until you retire. This means that superannuation is a good long term way of helping to secure a better financial future when you retire.

Enjoy the benefits of investing in a large superannuation fund like First State Super

Choose a level of Death and Total and Permanent Disablement cover to suit your needs