Superannuation
/ˌsuːpərˌænjuˈeɪʃən/
Definitions
- (n.) A pension program created by a company for the benefit of its employees, typically involving mandatory contributions to a fund accumulative toward retirement benefits.
Employees are entitled to receive superannuation payments upon retirement according to the company’s policy.
- (n.) Statutorily mandated retirement savings contributions made by employers on behalf of employees, often regulated under social security or pension law.
The employer is required by law to make superannuation contributions for all eligible workers.
Forms
- superannuation
Related terms
See also
Commentary
In legal drafting, distinguish between 'superannuation' as a general pension scheme and the statutory employer contributions to ensure clarity in obligations and entitlements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.