Clear definitions of key Australian Australian superannuation and retirement planning terms. Use this glossary alongside our calculator to understand your results.
Regulates most superannuation funds in Australia, setting capital requirements and governance standards.
The most common type of super fund where the retirement benefit depends on contributions made and investment returns earned.
A government-funded income support payment available to Australians aged 67+ who meet income and asset tests.
Before-tax super contributions including employer SG payments and salary sacrifice. Taxed at 15% inside super. Capped at $30,000 per year (2025-26).
A super fund where retirement benefits are calculated based on a formula involving salary and years of service, rather than investment returns.
A government scheme allowing first home buyers to withdraw voluntary super contributions (up to $50,000) to help fund a property purchase.
A simple, low-cost default super product required to be offered by all APRA-regulated funds.
After-tax super contributions. Not taxed on entry to super. Capped at $110,000 per year (or $330,000 over 3 years under bring-forward rules).
The minimum age at which you can access your superannuation — currently 60 for most Australians.
The compulsory employer contribution rate — currently 11.5% for 2024-25, rising to 12% from 1 July 2025.
A private super fund you manage yourself. Allows investment in property and other assets but requires significant administration.
A strategy allowing workers aged 60-67 to access some super as a pension while still working, potentially boosting super savings.
Now that you understand the terminology, use our free Super Fund Calculator to calculate your results. All terms above appear throughout the calculator and our guides.
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