Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 1L+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below
Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Trusted by 3 Crore+ Indians

Want to Achieve any of the below Goals upto 80% faster?

Car Side View

Dream Home

Car Side View

Dream Wedding

Car Side View

Dream Car

Motorcycle Side View

Retirement

auto rikshaw

1st Crore

Superannuation: A Comprehensive Guide to Types and Tax Advantages

Superannuation: A Comprehensive Guide to Types and Tax Advantages

Jan 5, 2024

15 Mins

INTRODUCTION:

In the dynamic landscape of financial planning, understanding the various mechanisms that secure one's future, especially post-retirement is of paramount importance. Among these mechanisms, superannuation stands out as a critical component, often overshadowed by more commonly discussed instruments like provident funds or the National Pension System. This comprehensive guide is dedicated to unraveling the intricacies of superannuation – a concept that is pivotal yet not widely understood by many. Spanning over 700 words, this introduction aims to set the stage for an in-depth exploration of how superannuation works, its various types, and the tax benefits it offers.

The Essence of Superannuation in Retirement Planning

As the workforce navigates through their career trajectory, the foresight of a financially secure retirement is a goal shared by many. In this context, superannuation emerges as a beacon of hope – a systematic approach to building a financial reservoir for the golden years. The term 'superannuation' might evoke images of complex financial jargon, but at its core, it is a straightforward yet powerful tool in retirement planning. This guide aims to demystify superannuation, making it accessible and understandable to the average employee who stands to benefit significantly from it.

Superannuation: More Than Just a Retirement Fund

Traditionally, retirement planning in India has revolved around savings accounts, real estate investments, and gold. However, the evolving financial landscape has brought superannuation into the limelight. It's not just a retirement fund; it's a comprehensive financial planning tool that ensures a steady income stream post-retirement. Understanding superannuation is crucial, as it’s often a significant component of an employee’s retirement package, albeit one that's frequently overlooked due to its somewhat complex nature.

The Employer-Employee Symphony in Superannuation

A unique aspect of superannuation is the dual contribution mechanism involving both employer and employee. This joint effort toward building a retirement corpus underscores the scheme's collaborative nature. It reflects a commitment by employers to their employees' long-term welfare and a prudent investment approach by employees towards their future. In many cases, employees may not even be aware of the existence of superannuation benefits or the extent to which they contribute to their retirement savings. This guide will delve into how superannuation functions as a silent yet potent force in an individual's financial portfolio.

Decoding the Types of Superannuation Plans

Superannuation plans in India can be broadly classified into defined benefit plans and defined contribution plans. Each type comes with its unique features, benefits, and implications for the employee's retirement planning. Understanding these differences is crucial for employees to make informed decisions about their retirement planning. This guide will explore these types in detail, elucidating the nuances that distinguish them and how they align with different retirement goals and scenarios.

The Impact of Superannuation on Tax Planning

An often overlooked aspect of superannuation is its impact on an individual's tax planning. Superannuation funds offer various tax benefits, both for the employer and the employee, making them an attractive component of a comprehensive financial strategy. However, these benefits are subject to certain conditions and limitations, which will be thoroughly examined in this guide. Understanding these tax implications can significantly enhance the effectiveness of superannuation as a retirement planning tool.

Recent Developments and Future Outlook

The financial world is ever-evolving, and superannuation policies are no exception. With changes in legislation and the economic environment, the dynamics of superannuation also transform. The 2020 Budget, for instance, brought about significant changes in the taxation of superannuation contributions. This guide will touch upon these recent developments, offering insights into how they affect existing superannuation policies and what they mean for future retirees.

A Tool for Secure and Stress-Free Retirement

At its core, superannuation is more than just a financial term or a retirement benefit; it's a promise of security and stability in one's post-retirement life. It represents a proactive approach to retirement planning, allowing individuals to enjoy their retirement years without financial worries. By offering a detailed exploration of superannuation, this guide aims to empower readers with the knowledge and understanding necessary to make the most of this vital financial tool.

In sum, this introduction serves as a primer to the comprehensive guide on superannuation that follows. It aims to provide clarity and insight into an often misunderstood yet crucial aspect of financial planning. As we delve deeper into the subsequent sections, readers will gain a thorough understanding of superannuation, equipping them with the knowledge to make informed decisions for a financially secure future.

Many employers in India offer an array of retirement benefits to their workforce, both as a mandatory obligation and as a voluntary measure to encourage long-term employment. These benefits often encompass the provident fund, gratuity, and the National Pension System, among others. Superannuation is one such notable retirement benefit provided by employers. Despite its importance, superannuation benefits are frequently overlooked by employees, many of whom may not realize its existence due to the employer-centric nature of contributions. This lack of awareness extends to the specifics of the benefit amount entitled at retirement. Therefore, comprehending the fundamentals of superannuation is crucial for effective financial planning and retirement preparedness.

Explaining Superannuation Benefit

Superannuation, by definition, refers to the process of retiring due to age or infirmity. In the realm of employment, it signifies a retirement benefit conferred by employers to their employees. Functioning as an organizational pension scheme, it's often termed as a company pension plan, providing a financial cushion for post-retirement life.

Classification of Superannuation Benefits

In India, superannuation benefits bifurcate into distinct types based on their investment mechanisms and benefits:

  • Defined Benefit Plans: This form of superannuation guarantees a fixed benefit, irrespective of the contributions made. The predetermined benefit hinges on various factors like tenure of service, salary, and the age of commencement of the benefit. This format is relatively complex and places the burden of generating the defined benefit on the employer. On retirement, eligible employees receive a consistent amount, calculated via a pre-established formula.

  • Defined Contribution Plans: Contrasting with defined benefit plans, these entail a fixed contribution with benefits directly linked to the contribution amount and market influences. This plan is easier to manage, though it shifts the uncertainty of the retirement benefit amount to the employee.

Operational Mechanics of Superannuation

Employers contribute towards a group superannuation policy on behalf of their employees. These contributions, typically a fixed percentage of the employee’s basic pay and dearness allowance, form part of the Cost To Company (CTC). In defined contribution plans, employees can also opt to contribute additionally. At retirement, employees have the option to withdraw a portion of the accumulated benefits and convert the rest into a regular pension via an annuity fund. Should an employee change jobs, the superannuation amount can be transferred to the new employer or retained in the fund until retirement.

Annuity Options in Superannuation

Annuity plans under superannuation offer various options, including lifetime payments, guaranteed payments for fixed years, payments with a return of capital, and joint life payments for spouses.

Tax Implications of Superannuation

Superannuation benefits yield tax advantages for both the employer and employee, contingent on the fund's approval by the Income Tax Department. Employer contributions to approved funds are tax-deductible, and the income generated by such funds is tax-exempt. For employees, their contributions are deductible under Section 80C, with specific exemptions and taxations applied to the superannuation benefits received under various circumstances.

Recent Updates in Tax Legislation

The 2020 Budget introduced a combined upper limit on the employer’s contributions towards NPS, RPF, and Superannuation funds. Contributions exceeding this limit are taxable as perquisites in the employee’s hands, alongside the interest or income accrued on such excess contributions.

A Tool for Secure Retirement Planning

Superannuation stands as a vital scheme for retirement planning, where both employer and employee contributions amass a fund that provides a steady income post-retirement. It's a voluntary scheme that not only aids in building a retirement corpus but also offers tax benefits, thereby enhancing its appeal as a reliable retirement planning tool.

In today's fast-paced life, planning for retirement is often deferred, but superannuation offers a structured way to prepare for a financially stable and comfortable post-retirement life. As a pension scheme supplemented by tax benefits, superannuation ensures that employees can look forward to their retirement years with financial confidence and security. This guide aims to demystify the concept of superannuation, its workings, types, and associated tax benefits, paving the way for informed retirement planning and sound financial decision-making.

As we reach the conclusion of this comprehensive exploration into the world of superannuation, it is imperative to reflect on the insights and knowledge gained about this crucial component of retirement planning. Over 700 words, we aim to encapsulate the essence of superannuation, highlighting its significance in ensuring a financially secure and comfortable post-retirement life. This conclusion serves not just as a summary of what has been discussed but also as a guidepost for future financial planning, especially for those standing at the threshold of their career or in the midst of it.

The Critical Role of Superannuation in Retirement Security

Superannuation, as we have seen, is more than a mere retirement benefit; it is a fundamental pillar of financial security for the post-working years. The dual contribution mechanism of superannuation, involving both employer and employee, underscores the collective responsibility towards ensuring a financially stable future. It’s a testament to the foresight and planning that goes into securing life after retirement, offering peace of mind and financial autonomy to individuals in their golden years.

Understanding and Leveraging Superannuation Benefits

A key takeaway from this exploration is the importance of understanding the nuances of superannuation benefits. Whether it is a defined benefit plan or a defined contribution plan, each has its unique characteristics and implications. For employees, gaining clarity on these types can lead to more informed and strategic decisions regarding their retirement planning. It’s crucial to recognize superannuation as an integral part of one's overall financial strategy, rather than an obscure or secondary component.

Navigating Tax Implications and Legal Changes

The tax advantages associated with superannuation are significant, yet they require careful navigation. The guide highlighted how superannuation contributions and withdrawals can impact one's tax liabilities, emphasizing the need for strategic planning. Additionally, staying abreast of legal changes, such as those introduced in the 2020 Budget, is essential for maximizing the benefits of superannuation while complying with the evolving tax landscape.

The Future of Superannuation: Trends and Predictions

Looking ahead, the landscape of superannuation is set to evolve with changing economic conditions, demographic shifts, and policy reforms. The trend towards more flexible and diversified retirement solutions may see superannuation schemes becoming more adaptive and aligned with individual needs. Technological advancements and digitalization will likely make superannuation management more streamlined and user-friendly. As individuals become more financially literate and proactive, we can expect a greater emphasis on customized superannuation plans that cater to diverse career paths and life goals.

A Tool for Empowerment and Responsibility

Superannuation empowers employees to take charge of their future, but it also comes with the responsibility of making informed choices. This involves regular monitoring of one’s superannuation account, understanding the impact of job changes on superannuation benefits, and making voluntary contributions when feasible. The decision to actively engage with and manage one’s superannuation fund is a crucial step towards a secure retirement.

Encouraging a Culture of Retirement Planning

One of the broader implications of discussing superannuation is the promotion of a culture that values and prioritizes retirement planning. By shedding light on superannuation, this guide aims to encourage individuals, especially those in the early stages of their careers, to start planning for retirement early. This shift in mindset is vital in a country like India, where traditional retirement planning has often been overlooked in favor of more immediate financial goals.

Superannuation as a Lifeline for Post-Retirement Life

In conclusion, superannuation stands as a vital lifeline, ensuring that the twilight years of one’s life are not marred by financial insecurities but are instead a time of peace, comfort, and well-deserved leisure. As we have navigated through the workings, types, and tax implications of superannuation, the overarching message is clear: proactive and informed engagement with superannuation is key to a fulfilling and financially secure retirement.

As we wrap up this comprehensive guide, it’s hoped that the insights provided will serve as a valuable resource for anyone looking to understand and make the most of their superannuation benefits. The journey towards a secure retirement begins with knowledge and is sustained by wise planning and consistent action. Superannuation is not just a financial concept; it’s a pathway to a dignified and independent retirement, and it deserves the attention and understanding of every working individual in India.

INTRODUCTION:

In the dynamic landscape of financial planning, understanding the various mechanisms that secure one's future, especially post-retirement is of paramount importance. Among these mechanisms, superannuation stands out as a critical component, often overshadowed by more commonly discussed instruments like provident funds or the National Pension System. This comprehensive guide is dedicated to unraveling the intricacies of superannuation – a concept that is pivotal yet not widely understood by many. Spanning over 700 words, this introduction aims to set the stage for an in-depth exploration of how superannuation works, its various types, and the tax benefits it offers.

The Essence of Superannuation in Retirement Planning

As the workforce navigates through their career trajectory, the foresight of a financially secure retirement is a goal shared by many. In this context, superannuation emerges as a beacon of hope – a systematic approach to building a financial reservoir for the golden years. The term 'superannuation' might evoke images of complex financial jargon, but at its core, it is a straightforward yet powerful tool in retirement planning. This guide aims to demystify superannuation, making it accessible and understandable to the average employee who stands to benefit significantly from it.

Superannuation: More Than Just a Retirement Fund

Traditionally, retirement planning in India has revolved around savings accounts, real estate investments, and gold. However, the evolving financial landscape has brought superannuation into the limelight. It's not just a retirement fund; it's a comprehensive financial planning tool that ensures a steady income stream post-retirement. Understanding superannuation is crucial, as it’s often a significant component of an employee’s retirement package, albeit one that's frequently overlooked due to its somewhat complex nature.

The Employer-Employee Symphony in Superannuation

A unique aspect of superannuation is the dual contribution mechanism involving both employer and employee. This joint effort toward building a retirement corpus underscores the scheme's collaborative nature. It reflects a commitment by employers to their employees' long-term welfare and a prudent investment approach by employees towards their future. In many cases, employees may not even be aware of the existence of superannuation benefits or the extent to which they contribute to their retirement savings. This guide will delve into how superannuation functions as a silent yet potent force in an individual's financial portfolio.

Decoding the Types of Superannuation Plans

Superannuation plans in India can be broadly classified into defined benefit plans and defined contribution plans. Each type comes with its unique features, benefits, and implications for the employee's retirement planning. Understanding these differences is crucial for employees to make informed decisions about their retirement planning. This guide will explore these types in detail, elucidating the nuances that distinguish them and how they align with different retirement goals and scenarios.

The Impact of Superannuation on Tax Planning

An often overlooked aspect of superannuation is its impact on an individual's tax planning. Superannuation funds offer various tax benefits, both for the employer and the employee, making them an attractive component of a comprehensive financial strategy. However, these benefits are subject to certain conditions and limitations, which will be thoroughly examined in this guide. Understanding these tax implications can significantly enhance the effectiveness of superannuation as a retirement planning tool.

Recent Developments and Future Outlook

The financial world is ever-evolving, and superannuation policies are no exception. With changes in legislation and the economic environment, the dynamics of superannuation also transform. The 2020 Budget, for instance, brought about significant changes in the taxation of superannuation contributions. This guide will touch upon these recent developments, offering insights into how they affect existing superannuation policies and what they mean for future retirees.

A Tool for Secure and Stress-Free Retirement

At its core, superannuation is more than just a financial term or a retirement benefit; it's a promise of security and stability in one's post-retirement life. It represents a proactive approach to retirement planning, allowing individuals to enjoy their retirement years without financial worries. By offering a detailed exploration of superannuation, this guide aims to empower readers with the knowledge and understanding necessary to make the most of this vital financial tool.

In sum, this introduction serves as a primer to the comprehensive guide on superannuation that follows. It aims to provide clarity and insight into an often misunderstood yet crucial aspect of financial planning. As we delve deeper into the subsequent sections, readers will gain a thorough understanding of superannuation, equipping them with the knowledge to make informed decisions for a financially secure future.

Many employers in India offer an array of retirement benefits to their workforce, both as a mandatory obligation and as a voluntary measure to encourage long-term employment. These benefits often encompass the provident fund, gratuity, and the National Pension System, among others. Superannuation is one such notable retirement benefit provided by employers. Despite its importance, superannuation benefits are frequently overlooked by employees, many of whom may not realize its existence due to the employer-centric nature of contributions. This lack of awareness extends to the specifics of the benefit amount entitled at retirement. Therefore, comprehending the fundamentals of superannuation is crucial for effective financial planning and retirement preparedness.

Explaining Superannuation Benefit

Superannuation, by definition, refers to the process of retiring due to age or infirmity. In the realm of employment, it signifies a retirement benefit conferred by employers to their employees. Functioning as an organizational pension scheme, it's often termed as a company pension plan, providing a financial cushion for post-retirement life.

Classification of Superannuation Benefits

In India, superannuation benefits bifurcate into distinct types based on their investment mechanisms and benefits:

  • Defined Benefit Plans: This form of superannuation guarantees a fixed benefit, irrespective of the contributions made. The predetermined benefit hinges on various factors like tenure of service, salary, and the age of commencement of the benefit. This format is relatively complex and places the burden of generating the defined benefit on the employer. On retirement, eligible employees receive a consistent amount, calculated via a pre-established formula.

  • Defined Contribution Plans: Contrasting with defined benefit plans, these entail a fixed contribution with benefits directly linked to the contribution amount and market influences. This plan is easier to manage, though it shifts the uncertainty of the retirement benefit amount to the employee.

Operational Mechanics of Superannuation

Employers contribute towards a group superannuation policy on behalf of their employees. These contributions, typically a fixed percentage of the employee’s basic pay and dearness allowance, form part of the Cost To Company (CTC). In defined contribution plans, employees can also opt to contribute additionally. At retirement, employees have the option to withdraw a portion of the accumulated benefits and convert the rest into a regular pension via an annuity fund. Should an employee change jobs, the superannuation amount can be transferred to the new employer or retained in the fund until retirement.

Annuity Options in Superannuation

Annuity plans under superannuation offer various options, including lifetime payments, guaranteed payments for fixed years, payments with a return of capital, and joint life payments for spouses.

Tax Implications of Superannuation

Superannuation benefits yield tax advantages for both the employer and employee, contingent on the fund's approval by the Income Tax Department. Employer contributions to approved funds are tax-deductible, and the income generated by such funds is tax-exempt. For employees, their contributions are deductible under Section 80C, with specific exemptions and taxations applied to the superannuation benefits received under various circumstances.

Recent Updates in Tax Legislation

The 2020 Budget introduced a combined upper limit on the employer’s contributions towards NPS, RPF, and Superannuation funds. Contributions exceeding this limit are taxable as perquisites in the employee’s hands, alongside the interest or income accrued on such excess contributions.

A Tool for Secure Retirement Planning

Superannuation stands as a vital scheme for retirement planning, where both employer and employee contributions amass a fund that provides a steady income post-retirement. It's a voluntary scheme that not only aids in building a retirement corpus but also offers tax benefits, thereby enhancing its appeal as a reliable retirement planning tool.

In today's fast-paced life, planning for retirement is often deferred, but superannuation offers a structured way to prepare for a financially stable and comfortable post-retirement life. As a pension scheme supplemented by tax benefits, superannuation ensures that employees can look forward to their retirement years with financial confidence and security. This guide aims to demystify the concept of superannuation, its workings, types, and associated tax benefits, paving the way for informed retirement planning and sound financial decision-making.

As we reach the conclusion of this comprehensive exploration into the world of superannuation, it is imperative to reflect on the insights and knowledge gained about this crucial component of retirement planning. Over 700 words, we aim to encapsulate the essence of superannuation, highlighting its significance in ensuring a financially secure and comfortable post-retirement life. This conclusion serves not just as a summary of what has been discussed but also as a guidepost for future financial planning, especially for those standing at the threshold of their career or in the midst of it.

The Critical Role of Superannuation in Retirement Security

Superannuation, as we have seen, is more than a mere retirement benefit; it is a fundamental pillar of financial security for the post-working years. The dual contribution mechanism of superannuation, involving both employer and employee, underscores the collective responsibility towards ensuring a financially stable future. It’s a testament to the foresight and planning that goes into securing life after retirement, offering peace of mind and financial autonomy to individuals in their golden years.

Understanding and Leveraging Superannuation Benefits

A key takeaway from this exploration is the importance of understanding the nuances of superannuation benefits. Whether it is a defined benefit plan or a defined contribution plan, each has its unique characteristics and implications. For employees, gaining clarity on these types can lead to more informed and strategic decisions regarding their retirement planning. It’s crucial to recognize superannuation as an integral part of one's overall financial strategy, rather than an obscure or secondary component.

Navigating Tax Implications and Legal Changes

The tax advantages associated with superannuation are significant, yet they require careful navigation. The guide highlighted how superannuation contributions and withdrawals can impact one's tax liabilities, emphasizing the need for strategic planning. Additionally, staying abreast of legal changes, such as those introduced in the 2020 Budget, is essential for maximizing the benefits of superannuation while complying with the evolving tax landscape.

The Future of Superannuation: Trends and Predictions

Looking ahead, the landscape of superannuation is set to evolve with changing economic conditions, demographic shifts, and policy reforms. The trend towards more flexible and diversified retirement solutions may see superannuation schemes becoming more adaptive and aligned with individual needs. Technological advancements and digitalization will likely make superannuation management more streamlined and user-friendly. As individuals become more financially literate and proactive, we can expect a greater emphasis on customized superannuation plans that cater to diverse career paths and life goals.

A Tool for Empowerment and Responsibility

Superannuation empowers employees to take charge of their future, but it also comes with the responsibility of making informed choices. This involves regular monitoring of one’s superannuation account, understanding the impact of job changes on superannuation benefits, and making voluntary contributions when feasible. The decision to actively engage with and manage one’s superannuation fund is a crucial step towards a secure retirement.

Encouraging a Culture of Retirement Planning

One of the broader implications of discussing superannuation is the promotion of a culture that values and prioritizes retirement planning. By shedding light on superannuation, this guide aims to encourage individuals, especially those in the early stages of their careers, to start planning for retirement early. This shift in mindset is vital in a country like India, where traditional retirement planning has often been overlooked in favor of more immediate financial goals.

Superannuation as a Lifeline for Post-Retirement Life

In conclusion, superannuation stands as a vital lifeline, ensuring that the twilight years of one’s life are not marred by financial insecurities but are instead a time of peace, comfort, and well-deserved leisure. As we have navigated through the workings, types, and tax implications of superannuation, the overarching message is clear: proactive and informed engagement with superannuation is key to a fulfilling and financially secure retirement.

As we wrap up this comprehensive guide, it’s hoped that the insights provided will serve as a valuable resource for anyone looking to understand and make the most of their superannuation benefits. The journey towards a secure retirement begins with knowledge and is sustained by wise planning and consistent action. Superannuation is not just a financial concept; it’s a pathway to a dignified and independent retirement, and it deserves the attention and understanding of every working individual in India.

FAQs 🤔

What is superannuation and how does it benefit employees?

  • Superannuation is a retirement benefits scheme where both employer and employee contribute to a fund, which then provides income post-retirement.

Are there different types of superannuation plans?

  • Yes, superannuation plans primarily include 'Defined Benefit Plans' and 'Defined Contribution Plans,' each with distinct features and benefits.

Can employees contribute to their superannuation fund?

  • Employees can voluntarily contribute to their superannuation fund, particularly in defined contribution plans.

What are the tax benefits associated with superannuation?

  • Superannuation contributions are tax-deductible for both employers and employees, and withdrawals may have tax exemptions under certain conditions.

What happens to the superannuation fund if an employee changes jobs?

  • If an employee changes jobs, they can transfer the superannuation fund to the new employer, or opt to withdraw or retain it until retirement.

What is superannuation and how does it benefit employees?

  • Superannuation is a retirement benefits scheme where both employer and employee contribute to a fund, which then provides income post-retirement.

Are there different types of superannuation plans?

  • Yes, superannuation plans primarily include 'Defined Benefit Plans' and 'Defined Contribution Plans,' each with distinct features and benefits.

Can employees contribute to their superannuation fund?

  • Employees can voluntarily contribute to their superannuation fund, particularly in defined contribution plans.

What are the tax benefits associated with superannuation?

  • Superannuation contributions are tax-deductible for both employers and employees, and withdrawals may have tax exemptions under certain conditions.

What happens to the superannuation fund if an employee changes jobs?

  • If an employee changes jobs, they can transfer the superannuation fund to the new employer, or opt to withdraw or retain it until retirement.

Download App

Explore More

Managing assets totalling over 1 crore+