Superannuation

Superannuation

Superannuation is an investment designed to provide money for your retirement, it is the Australian form of a pension scheme. People generally start investing in superannuation when they start working as the employer is required to contribute a % of the employee’s earnings to a nominated superannuation fund.

When you are employed by GN Connections Ltd a superannuation contribution is made on a quarterly basis to your nominated fund, if you do not have a nominated fund an account with AMP Superannuation Ltd will be set up and maintained for you.

Contributions to a superannuation fund are compulsory. The rate of compulsory contributions are set by the Australian Government, the current superannuation rate is 9%.

When you leave Australia you are able to apply to receive a refund of the superannuation paid for you. This process can be managed direct with the fund who manages your account or with a dedicated super returns company.