What is Superannuation in Australia? How does super work?

In Australia, Superannuation also know as 'Super', is money that is put aside during your working life, which can be used as a source of income when you retire.

In this video, our money expert Effie Zahos explains the basics of what superannuation is, how it works and how you can maximise your super to strengthen your financial future.

00:19 What is superannuation?
00:43 How does super work in Australia? Am I entitled to super?
01:05 How is super invested?
01:39 How to make sure your super is on track

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❗ Important information:
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the product disclosure statement before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product.

The information here is general and does not take into account the market volatility. Please note that all information about performance returns is historical. Past performance should not be relied upon as an indicator of future performance; unit prices and the value of your investment may fall as well as rise.

Canstar is not authorised or registered to provide tax advice. Canstar does not provide legal or accounting advice. This article has been prepared for information purposes only and is not intended to provide and should not be relied upon for tax, legal or accounting advice. We recommend you seek advice from a qualified and registered (where applicable) professional adviser before making any financial or purchase decision.

Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917.