superannuation funds

Superannuation funds are savings plans designed to help individuals accumulate funds for retirement. Typically, a percentage of your income is automatically contributed to a dedicated fund during your working years, often by your employer and possibly yourself. These contributions grow over time through investments, with the goal of providing financial security after you stop working. You generally access these funds once you reach a certain age. Think of superannuation as a long-term, tax-advantaged savings account specifically for your retirement needs.