Daz,Tam & Jake

Hi All

Could anybody tell me how pensions Australian Pensions work, are company pension the norm or do you opt for a private one.

Any help appreciated

Thanks Daz

renth

For a start they call it superannuation here, "pensions" is the dole.

Companies are obliged to pay in to a super fund, I think most funds are private often based around a certain industry.

My fund is Unisuper, because I work at a University.

Daz,Tam & Jake

Hi Renth

Thanks for that, I hoping it will be superannuation then and not a pension

Daz

Bix

Daz.

All employers have to pay a minimum 9% into the Super.

If you get a job offer clarify whether the wage quoted includes it.
Not a pleasant experience expecting say 50k and only getting 45k.

If you are self employed you have to make your own Super arangements.

There is a state pension but it's means tested so I suspect most people working all their life and having a Super fund won't get any.

Daz,Tam & Jake

Thanks for the advice Bix on clarifying the salary, something I will be watching now.

Cheers Daz