Case Study Pages:
Superannuation: Why it's important for every young Australian
This Case Study focuses on the importance of superannuation for future financial health and the recent reforms that have particular relevance to young people. It also focuses on the national marketing and educational campaign developed to communicate these reforms and increase understanding.
By reading this Case Study students should be able to:
- Describe the ATO’s role in regulating and supporting superannuation in Australia
- Understand the what superannuation is, its key elements and how it works
- Outline the recent reforms and marketing campaign that aim to make superannuation easier to understand and use.
Have you thought about how you’ll live when you're retired? If you’ve thought that far ahead, you may have ideas of travelling the world, collecting classic cars or just enjoying a nice home and garden. But how will you fund your chosen lifestyle - after all, you won't have a pay packet to fall back on?
The Tax Office is one of three government agencies that play a role in regulating the Australian superannuation system and protecting your super benefits.
Employers must pay superannuation contributions on behalf of all their eligible employees. This compulsory contribution is called the superannuation guarantee.
Recent industry research found many younger Australians are not interested in superannuation.
In 2007, the Tax Office began a national marketing and education campaign to inform Australians about the changes to super laws and regulations.
Living comfortably in retirement is something most Australians aspire to.