answersLogoWhite

0

In Australia only if you want to. It is not a requirement but is a good idea as the more money you have for retirement, the more comfortable your retirement will be.

User Avatar

Wiki User

15y ago

What else can I help you with?

Related Questions

Can an S Corp contribute to a SEP IRA?

Yes, an S Corporation can contribute to a SEP IRA on behalf of its employees, including the business owner who is also an employee of the S Corp.


What does super mean in job salary?

In the context of job salary, "super" often refers to superannuation, which is a retirement savings plan in countries like Australia. Employers typically contribute a percentage of an employee's salary to this fund, which is meant to provide financial support in retirement. The term can also imply a higher-than-average salary or exceptional pay for a particular role.


Who pays superannuation?

Superannuation is primarily paid by employers in Australia, who are required to contribute a percentage of an employee's earnings into their super fund. Employees can also make personal contributions to boost their super savings. In some cases, self-employed individuals are responsible for contributing to their own superannuation. Additionally, the government may provide co-contributions or incentives to encourage savings.


What was the Wagner Act and how did it contribute to the rise of industrial unionism?

The Wagner Act was also called The National Labor Relations Act of 1935. It disallowed employers from interfering in employee unions.


What is a competent employee?

A competent employee is an employee knowing their job and performing it well, someone who is also reliable and responsible.


How can an employee contribute to the work environment?

One way that an employee can contribute to work environment is to remain positive. Negativity can bring down the moral of everyone in the company. Employees can also contribute to the work environment by keeping the work area clean and neat.


If employee is exempt from FICA is employer also exempt from contributing to FICA for that employee?

Yes.


What is FICA used for?

FICA is the acronym for the Federal Insurance Contributions Act. It mandates that employers withhold a set percentage of an employee's salary each pay period. FICA also requires the employer match the employee's amount and contribute the money to Social Security. This fund provides retirement income , and disability insurance


What is US FICA?

FICA is the acronym for the Federal Insurance Contributions Act. It mandates that employers withhold a set percentage of an employee's salary each pay period. FICA also requires the employer match the employee's amount and contribute the money to Social Security. This fund provides retirement income , and disability insurance


Can an LLC member also serve as an employee within the company?

Yes, an LLC member can also serve as an employee within the company.


What are the people at the Front Desk of a college called Also known as an Employee?

Front Desk Employee


What are the sources of employee grievances?

Employee grievances can stem from various sources, including poor management practices, lack of communication, and inadequate workplace conditions. Issues such as unfair treatment, insufficient compensation, and limited opportunities for advancement also contribute to dissatisfaction. Additionally, conflicts with coworkers and unclear job expectations can lead to frustration. Addressing these grievances promptly is essential for maintaining a positive work environment and employee morale.