Super is a form of savings for retirement. Most employees are entitled to superannuation; an additional 9% of "ordinary time" wages/salary (8% prior to 1/7/02). Ordinary time excludes things such as overtime.

Payment must be made at least quarterly (by the end of July, October, January and April each year), but in the majority of cases will be monthly. 

Super and Leave: Super payments in general continue while the employee is on any form of paid leave, but are not generally required for periods of unpaid leave.

No super is payable if the employee is:

• under 18 and working less than 30 hours per week, or
• earns less than $450 per month.

The amount will be paid to a super fund account in the employee's name. Superannuation cannot be drawn upon until retirement, except in very limited situations of dire need.

Choice of Super Fund: from July 2005 you may have to choose which fund you want your super paid into. Look for a fund that has:

• low contribution and account keeping fees,
• no entry or exit fees,
• no commissions paid to agents and
• no hidden charges.

Industry Super Funds meet these criteria, and are run by Trustees whose aim is to maximise the retirement benefit. (Many non-industry funds are owned by financial institutions whose chief aim is to maximise returns to their shareholders.)

For a small fee - as little as $44 - Working Today can help you to understand your specific situation. Use our online response form, or write us a letter at
PO Box 207 Fitzroy Victoria 3065.