Superannuation
See what you need to know about superannuation contributions, rules an requirements as a HR professional here. Superannuation savings are usually made through superannuation funds which are eligible for tax concessions if they meet prescribed standards set down in legislation. Retirement savings may also be made through retirement savings accounts provided by banks. Employers make contributions for employees under the superannuation guarantee scheme, which penalises employers who fail to make at least the minimum contributions required by the superannuation guarantee legislation.
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