Superannuation

• What is superannuation?
• Who has to pay superannuation?
• Does Qsuper provide income protection?
• Can you salary sacrifice super contributions?
• When can I get my superannuation?
• Can temporary residents get their superannuation when they leave the country?

Generally, if you have a job, your employer has to put money in to a superannuation account for you under the superannuation guarantee. This money should come from your employer directly, not from your pay packet. However, if you want to put extra money in to your superannuation yourself, you can.

The money put in to your superannuation account gets invested by the fund on your behalf, and is yours to use when you retire.

QSuper is the superannuation fund for Queensland Government employees.  It is compulsory for all employees to make contributions to the QSuper superannuation scheme.

Personal contributions will automatically be set at the standard rate of 5% upon commencement with Queensland Health, however this can be varied between 2% and 5%.  Queensland Health will contribute 7.75% on top of your individual contribution, as outlined below.

Typically, contributions you make to your super are made after you've paid income tax, which can be up to 46.5%1 of your salary.  Salary sacrificing allows you to make contributions before income tax is paid – which may save you from paying high rates of tax and enable you to grow your super.

If you enter Australia on an eligible temporary resident visa you can claim your Australian superannuation benefits once you have permanently departed the country(minus tax).

As this payment, known as a departing Australia superannuation payment, is for temporary residents it does not apply to Australian or New Zealand citizens.

• QSuper
• Australian Taxation Office
• Remserv