What Does Superannuation Mean?


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Lovika Grover answered
Superannuation can be also called as a pension. It is a fixed income that is given to any person which is on normal basis after retirement. These are a kind of payments which are made in shape of an annuity that is guaranteed, to a retired person or to a person who has been disabled due to work.

There is another kind of superannuation that is designed at times in the retirement plans. They design it in a way that they accumulate a balance of cash that can serve usefully for a person on the time of his retirement. In either of the types of superannuation, there are benefits given to the employee.

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