Superannuation is money regularly put into a fund that will be paid to the employee as a pension when they retire. Since 1 July 2014, employers must put a minimum of 9.5 per cent of each eligible employee’s earnings into a super fund (or retirement savings account). The 9.5 per cent rate will remain until 30 June 2021.

Contributor

Paul Bingham

Barrister

Superannuation: Contacts

Australian Financial Complaints Authority (AFCA)
Tel: 1800931678
Email: info@afca.org.au
Web: www.afca.org.au

On 1 November 2018, AFCA replaced the Financial Ombudsman Service, the Superannuation Complaints Tribunal (SCT), and the Credit and Investments Ombudsman. Complaints made to the SCT before that date will remain with the SCT.

Australian Taxation Office (ATO)
Tel: 13 28 65
Web: www.ato.gov.au/individuals/super

Centrelink
Tel (superannuation): 13 23 00
Web: www.servicesaustralia.gov.au

Financial Ombudsman Service (FOS) see Australian Financial Complaints Authority (AFCA)

Superannuation Complaints Tribunal (SCT) see Australian Financial Complaints Authority (AFCA)

Back to
Managing your money

Buy the chapter ‘Superannuation’