Definition of superannuation in English:



  • 1[usually as modifier] Regular payment made into a fund by an employee toward a future pension.

    ‘a superannuation fund’
    • ‘Meanwhile some downsized staff have been re-engaged at lower costs (no holiday pay or superannuation costs) as outside contractors.’
    • ‘The issue of knowledge is significant since there is consistent evidence that employees feel they are ill-informed about superannuation and may not be equipped to make the decisions required of them.’
    • ‘Should we increase saving, through an increase in the compulsory superannuation levy?’
    • ‘Such resources as were available needed to be preserved for existing structures, particularly as the union was in the process of setting up a superannuation fund.’
    • ‘The evidence presented in this study raises a number of concerns for superannuation contributors.’
    • ‘Today, social security benefits, superannuation schemes and other forms of insurance cushion us from the very worst effects of death, retirement, unemployment and chance misfortunes.’
    • ‘One of the skills the company brought with it from Australia was its 15 years of running compulsory superannuation programs for around three million people.’
    • ‘This involves dedicating 8 per cent of taxation revenue to a superannuation fund which is then invested to build a portfolio of financial assets.’
    • ‘Women, those aged under 35 and those with little knowledge of superannuation were over-represented in finding the decision difficult.’
    • ‘The legislation cannot apply to certain state superannuation funds because they are protected from revenue measures under the constitution.’
    • ‘Apart from the collection, pooling and investment of contributor funds, superannuation funds also facilitate the flow of capital from surplus units to deficit units in modern capitalist economies.’
    • ‘It seems we may be smarter spending on groceries than saving our superannuation.’
    • ‘Compulsory saving through the superannuation levy and proposals to increase the mandatory levy are another government policy driven by the fear of excessive costs to the government budget in the future.’
    • ‘Already 2,500 technicians have rejected a pay, allowances and superannuation package equivalent to an 18 per cent rise.’
    • ‘The findings of this study would seem to underline the importance of financial education and high-quality information for employees who are asked to make decisions about how and with whom their superannuation will be invested.’
    • ‘They would offer an interest rate that would be guaranteed by the government, say 5% or 6%, and superannuation funds would invest in those bonds.’
    • ‘But once you get bigger you find that the Government makes you pay superannuation, workers compensation; all these things that are very adult.’
    • ‘It is different from normal insurance where people have a choice of how much insurance and what kind they need; and of course it is different from private superannuation schemes for the same reasons.’
    • ‘For example, Australians for the past decade and a half have been obliged to save for their own personal superannuation funds.’
    annuity, superannuation
    View synonyms
    1. 1.1A superannuation pension paid to a retired person.
      • ‘But, you see, if we pay for their superannuation, then we can expect to have ours paid for too.’
      • ‘This is causing many countries to panic over the level of taxes being generated and the money needed to help fund superannuation and health services.’
      • ‘Calculate any other income you expect to receive such as New Zealand superannuation, private superannuation or any other investments.’
      • ‘As of February 1996, some 6 months after separation, he became entitled to superannuation, by virtue of that disability.’
      • ‘We need to raise retirement ages and means test for superannuation and put some rights and responsibilities back in the hands of the people.’
      • ‘In most cases, New Zealand Superannuation will make up the bulk of this income, although you may have private superannuation or other investments in place which will make regular payments.’
      • ‘It has to contend with a growing number of people in retirement and a smaller number of taxpayers left to cover the cost of superannuation and other retiree-related expenses, such as health care.’
      • ‘With nearly 70 percent of survey respondents indicating that they were either on a benefit, including national superannuation, or were a student, this result is not surprising.’
      • ‘Each party will then take some of the superannuation and whatever modest current assets they had, and then be able to finally determine their financial relations.’
    2. 1.2The process of superannuating an employee.