Word
superannuation
Phoneticssu·per·an·nu·a·tion
UK/sˌuːpəɹˌænjuːˈeɪʃən/
Definition
n. a regular payment made into a fund by an employee toward a future pension. It is a way of saving money for when you retire from work.
n. a regular contribution made towards a pension fund by an employee or employer. Often refers specifically to the Australian retirement savings system or similar compulsory schemes.
Examples
“My employer pays nine percent into my superannuation.”
“The government recently changed the laws regarding how much tax you pay on your superannuation when you retire.”
“Financial advisors often recommend making voluntary contributions to your superannuation early in your career to take full advantage of compound interest over several decades.”
Examples
simple
“My employer pays nine percent into my superannuation.”
contextual
“The government recently changed the laws regarding how much tax you pay on your superannuation when you retire.”
complex
“Financial advisors often recommend making voluntary contributions to your superannuation early in your career to take full advantage of compound interest over several decades.”
Usage
Commonly shortened to 'super' in informal Australian and New Zealand English.
Real-World Examples
“The treasurer, Jim Chalmers , says One Nation leader Pauline Hanson is a threat to Australian’s retirement savings, warning her calls to loosen the rules for compulsory superannuation would hurt the system.” “Pauline Hanson said on Sunday that Australians should be able to access superannuation early to cope with cost-of-living pressures.” Etymology
From superannuate + -ion, from superannuated.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Domain
Scan code
englishreference.com/q/superannuation