The phrase
"superannuation system" refers to a retirement savings plan or program. It is designed to help individuals save money during their working years so that they can have financial security and income when they stop working.
Full definition
THE Government's proposed provisions for superannuation funds will undermine
the superannuation system, according to the Institute for Chartered Accountants in Australia.
«Supporting Australian industry — whether that be in agriculture or venture capital — is one of the enormous advantages that Australia has as
a superannuation system.»
The changes to
the superannuation system, announced by the Australian Government in the 2016 — 17 Budget, have now received royal assent.
Changes to
the superannuation system commenced on 1 July 2017.
Setting the goals of the system will help promote stability in superannuation which is critical to savers having confidence in
the superannuation system and making long term savings decisions.
You can keep your money within
the superannuation system and transfer it from an accumulation fund to an account - based pension.
The superannuation lump sum that arises from a commutation may be cashed out of
the superannuation system or can be retained within the superannuation system subject to the cashing rules for superannuation death benefits.
As a German, i am highly envious about
your superannuation system.