Superannuation in plain words
What super is, where it goes, and the three things to do with it this year.
3 minute read · Last updated 5 October 2026
What super is
Superannuation is your retirement savings, paid by your employer on top of your wage. It grows quietly in a fund, invested on your behalf, until you can access it in retirement.
Because it is invested, it has fees and it has a return. The difference between funds over a working life is large, so a little attention now is worth a lot later.
Three things to do
One: make sure you have one fund, not several — several funds means several sets of fees. Two: check your details are right, including your tax file number, so contributions are not taxed more than they should be. Three: look for any lost or unclaimed super from old jobs.
If you are a temporary resident and later leave Australia permanently, there are rules about claiming super back. Check whether you are eligible before you go.
Where to check
The tax office holds a register of your super accounts and can help you find lost super. Your fund's own website explains its fees and its investment options in a document called a product disclosure statement.
The rate, the caps and the rules change most years. Read the official sources for the year you are reading this, not a fixed figure here.
The one thing to take away
One fund, correct details, and find any lost super — that is the whole job this year.
Official sources
Always check the official source. Rates, fees and rules change.