How does my superannuation account work?
Money going in
There are a number of ways that money can go into your
superannuation account, depending on your situation. These
transactions are called 'contributions'.
| Types of contributions |
Made by: |
| Employer or 'Superannuation Guarantee' (SG) contributions |
Your employer |
| Voluntary contributions |
You |
| Salary sacrifice contributions |
You in agreement with your employer |
| Government co-contribution |
The government to eligible people who have made after-tax (i.e.
voluntary) contributions |
| Spouse contributions |
You on behalf of your spouse |
| Rollovers (rolling in your other superannuation
account(s)) |
Other superannuation funds |
Money going out
Like any investment, there are some fees and charges associated
with managing your superannuation fund. As a 100% Industry
Super Fund, we don't pay commissions to financial advisers or
dividends to shareholders, so all profits are returned to you, our
members.
Money going out of your account includes items like taxes,
insurance premiums (if applicable), administration fees and other
costs. Investment management costs and any other ongoing Trustee
expenses are deducted from your investment earnings before they are
paid into your account.
All fees and charges are included in your annual statement. You
can find out more about our fees here.