Superannuation

Superannuation

An organizational pension program created by companies for the benefit of their employees.

Notes:

Funds deposited in a superannuation account will typically grow without any tax implications until retirement or withdrawal.

These plans are also referred to as company pension plans, and are usually either defined benefit or defined contribution plans.

See also: 401K Plan, Defined Benefit Pension Plan, Defined Contribution Pension Plan, Pension Plan