How does super-annuation in Australia work?

im a british citizen, moved to australia for 18months.


ive just got a job, but im not sure what i need for my first day-ie do i need details of a fund?


do i need a nominated fund for my super annuation to go into?


or is it true that i can get it in cash before i leave Oz?



If you don%26#039;t have a superannuation account, don%26#039;t worry. They will usually set you up with one in the first week or two that you are working. They usually just give you the paperwork for a generic fund like Australian Super and you just fill it in and give it back to them.





If you have an existing superannuation account, bring the details with you when you start work. That way, you can just set your super up immediately and don%26#039;t have to worry about doing heaps of paperwork to switch to your existing account.





You would have to talk to an accountant about whether you can get it when you leave Australia. However, most people in Australia cannot access their superannuation until they reach preservation age, which is about 60 - 65.




Super annuation is 9% on top of the gross salary. As a employee you also can contribute. But, you cannot take this money out untill you are 60 years old.


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