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23+ Superannuation Account PNG
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23+ Superannuation Account PNG. Super, or superannuation, is important because the more you save, the more money you will have in retirement. It is also referred to as a company pension plan.
Funds deposited in a superannuation. For most people, super begins when you start work and your employer starts paying a percentage of your salary or wages into a super fund account for you. Superannuation (or 'super') is a compulsory system of placing a minimum percentage of your income into a fund to support your financial needs in retirement.
By law, your employer needs to pay at least 9.5% of your ordinary time earnings into a complying super fund on your behalf once you earn more than $450 per month before tax.
A retirement money market account is different from a money. We all know there is magic in compounding. Superannuation is the portion of your earnings and savings that is placed in a fund and typically held there for you to use after you retire. Your super is invested in a range of assets to help grow your balance so you can have the best possible retirement outcome.
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